3 years agoTrade Started..
3 years ago
3 years ago
XAUUSD 1Hour Signal Chart
Follow signal progress on the chart below.
The SPOT Gold Ounce vs US Dollar pair, Has surged higher during the North American session this afternoon. With the pair gaining nearly 12833 pips, it continue’s to move down in a strong BULLISH trend as it did in the past days ( view Daily chart below ).
On the other hand, XAUUSD is holding well below the long term 200 days simple moving average (thats why we dont recommend any long trades on the XAUUSD for the coming days).
The 50 and the 20 days simple moving averages are also confirming continuation for the well established BULLISH trend. You should be however, alerted to the BULLISH Pennet Pattern which is emerging on the 1H Chart. It might break down in the direction of main BEARISH Trend on Daily Chart.
CONCLUSION: [We highly recommend to avoid trading XAUUSD for today Monday as we might be dealing with a choppy rising correction for rest of the day.] However As per above general BULLISH trend; Only Short trades to be considered following completion of any counter trend rising correction on the 60-minute chart.
▲ Buy Signal Details
|Time||Mon 2017.10.09 17:03|
|1s TP @||1295.12000|
|2nd TP @|
(Note: This conclusion is only valid as long as price is holding below the 200 periods simple moving average (red dotted line) on the 60-minute chart,