XAU/USD: strong signals to buy the gold
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Recommendations:
BUY 1230 SL 1215 TP 1263 TP2 1287 TP3 1305
BUY 1218 SL 1203 TP1 1248 TP2 1263 TP3 1287
On the daily chart of XAU/USD, the pair keeps reaching targets of “Dragon” and “Crab” patterns. To continue the upward movement, pair’s moves should form the “Dragon’s head” and retest the October high.
On H1, the pair has been reaching targets of the “Dragon”, “Spike and ledge”, “Triangle”, and “Bat” patterns. A break of the resistance at 1,230 will let bulls continue the rally. A pullback from the support at 1,218 (88.6% target of the “Bat” pattern) may be used as a signal to buy.
