GOLD (XAUUSD) Everything YOU Need to KNOW!!!

hey guys,

to trade wisely gold next week here are the main points to consider.

higher time frame perspective (daily/weekly):

• market is in a strong bullish trend
  
• market is approaching a weekly resistance
  
• 1779 - 1802 is a strong weekly resistance cluster
  
• 1738 - 1749 is a strong daily support cluster
  

lower time frame perspective (4H):

• market is in a strong bullish trend
  
• market is stuck in a horizontal accumulation area 1760 - 1786
  
  
  though long positions remain our priority, we should be careful with a price action around a weekly structure.
  analyzing 2011-2012 perspective the price can easily start a strong bearish rally soon.
  
  with high probability current structure high will be retested this week.
  look for a reaction of the market and short only after a strong confirmation.
  
  same thing with long trades,
  take longs from a support of the 4H range with a decent confirmation,
  or from a daily support cluster.
  
  no rush, it is very easy to be stopped out on gold, so entry areas must be the safest.
  
  good luck next week!

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