• Vasily Trader

GOLD (XAUUSD): Important Decision AHEAD!!! (Trading Plan)

hey guys,

looks like next week will be very important for gold.

the price is approaching a strong daily resistance cluster based on a falling trend line and strong horizontal structure.

Friday's high momentum bullish candle indicates a strong bullish pressure and we will definitely see a breakout attempt next week.

in case of a daily candle close above a red resistance area , chances will be high that the price will keep growing.

I am preparing for a violation and will look for buying opportunities.

however, for now we are still below.

so bearish scenario is still possible, so if you see a reversal pattern on lower timeframes on monday/tuesday,

why not to try to catch a retracement.

let's just follow the market and act accordingly.

have a great weekend.