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XAUUSD Gold Trendline Breakout and Long Opportunity

XAUUSD Gold Trendline Breakout and Long Opportunity

Description: XAUUSD Gold broke the descending trendline on the H4 Chart. EMA 50 and EMA 100 supporting the bullish move.

Pair / Instrument: XAUUSD 

Time Frame: H4

Trade Period: Intraday / Midterm

The trend in the Timeframe: Neutral

The trend in the Daily Chart: Neutral

Trade Based On: Bearish Cypher

Accuracy: %92

Recommended Lot Size: 0.10 at 10K

Trade: Long

The Area Of The Entry: 1226

Stop Loss: Below 1222 ( According to MM stop below 1217 )

Target 1: 1230

Target 2: 1234

Target 3: 1244

Note: Concervative traders can wait for the pullback and retest at 1223 to enter the trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

Gold Trendline Breakout:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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