Long position in gold 1809 with bullish outlook.

We have entered a long position on Gold (XAU/USD) at 1809 and the current candle is showing a strong bullish momentum. Additionally, a Morning Star pattern has formed at the bottom of the chart, which is indicated by a bullish candle that engulfs the preceding bearish candle, followed by a Doji or spinning top. This combination of candlesticks is a signal of a potential bottom.

The immediate resistance level to watch is near 1833, and there is also the release of the Nonfarm ADP data in the evening, which is likely to push Gold to the 1833 level. The chart also shows a clear double-bottom formation, which supports a bullish outlook.

Our strategy is to hold on to our long positions with a target profit near 1833 and a stop loss at 1802.

Follow me for a simpler trading experience! XAUUSD

Komen:

The market is following the expected trend, stay tuned.

Komen:

is rising

Komen:

Liking, commenting, and subscribing are the greatest encouragement to me. Follow me to make trading easier! Also, welcome to check out my other ideas below.