Gold is unstoppable. After a retracement to the POC zone at 1385-1390 the price continued going up. We have the new POC zone formed at the ATR low.

XAUUSD

 

1410-1415 could make the price bounce again on a bullish reversal candlestick pattern. If we don’t see a retracement to the POC watch for a continuation above D H4 camarilla pivot at 1438. The main target is 1442. However a strong bullish impulse could lead to 1450 and 1456. Only a break below the lower trend line 1390 could make Gold neutral again. So far, buying the dip is obvious on intraday time frames.

XAUUSD

 

Gold Current Trading Positions

Sell 20%
Buy 80%
100.0%20.0%02030405060708090100
Avg Sell Price 1360.00
Avg Buy Price 1285.50
Liquidity Distribution
1279.0013191362.00SellBuy

 


 

The analysis has been done with the CAMMACD.MTF template.

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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.

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