XAUUSD: Time for this commodity to shine?

We had a strong sell down on Gold the past few days, breaking the 1758 support region which caused many retail traders to chase the short positions.

We are fast approaching a demand zone (1685/1722), I expect some sideways movement here before the price pushes higher.

Ultimately, the trend is still bullish and price should revisit the 1870/1900 region again before further direction.

XAUUSD Long
Entry is valid as long as price is above 1685
SL 1660
TP 1870/1900

Yorum:

As expected, price has found support at the 1685 level and is pushing higher.

We should see 1758 pretty quickly.