XAUUSD

For sometime now we’ve seen the gold market plummet to levels as low as 1800 before finding support and slowly picking up. In today’s post we focus primarily on bargain entries. Although the gold prices have drastically dropped. We think that these are results of retracements and pullbacks that the markets is encountering. However the XAUUSD slowly rises after plummeting

XAUUSD H4 chart 19 Jan 2020
XAUUSD H4 chart 19 Jan 2020

If we take a look at the charts you will notice how far the market has travelled from its higher high. Today price trades at level 1837.77 which is about 25000 points away from its higher high. Thus providing room for opportunity for cheaper entries. The challenge lies in find the right entry and timing to participating in the market and maximize from this opportunity.

In our H4 chart. We see price close as a pin bar after reaching level 1764.50 .This is a result of buying pressure from bullish traders that forced the XAUUSD slowly to rise and close as such. This alone can serve as one signal to give a clear indication of where we could see price trade. We believe that if price does break past level 1848.92 then that could be a bullish signal.

XAUUSD Daily chart 19 Jan 2020
XAUUSD Daily chart 19 Jan 2020

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets.

Follow Us

Leave a Reply

Your email address will not be published. Required fields are marked *