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XauUsd: Take off!

Updated: Jan 3, 2020


Weekly Timeframe:


Daily Timeframe

 

Weekly Time Frame: simply by reading price action we can see we managed to snap right back above 1480 key zone with strong bullish momentum.


Daily Time Frame: we are looking bullish with the break of 1515 and our flag formation. We managed to create a double bottom around 1450 and a strong break and close above 1480 which initiated this bullish drive.


If price manages to maintain above 1515 key zone, we can anticipate 1533 or 1550 fulfill. Would like to get in around 1515 which was last previous swing high which was been cleared.


(risk management is key)

 

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