XAUUSD Establishing itself over the MA50 (4h).
Gold is trading inside a Channel Down since early May and last Friday formed the new Lower Low.
The price has established itself over the MA50 (4h) and technically this is the rising wave to a new Lower High.
Trading Plan:
1. Buy near the MA50 (4h).
Targets:
1. 1890 (a little under the 0.618 Fibonacci level and probable contact with the MA50 1d).
Tips:
1. The price peaks when the RSI (4h) forms a Double Top. If this is formed again before we reach 1890, then book the profit on the spot.
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Notes:
Past trading plan:
The price has established itself over the MA50 (4h) and technically this is the rising wave to a new Lower High.
Trading Plan:
1. Buy near the MA50 (4h).
Targets:
1. 1890 (a little under the 0.618 Fibonacci level and probable contact with the MA50 1d).
Tips:
1. The price peaks when the RSI (4h) forms a Double Top. If this is formed again before we reach 1890, then book the profit on the spot.
Please like, follow and comment!!
Notes:
Past trading plan:
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