XAU/USD: the gold is strong
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Recommendation:
BUY 1,251 SL 1,236 TP1 1,271 TP2 1,287 TP3 1,308
On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions. The gold needs to break the December's maximum to continue rising towards the 161.8% target of the AB=CD pattern.
On H1, the target of the "Wolfe Waves" pattern was reached. The reversal towards the 23.6% target of the "Shark" pattern's CD wave as a part of its transformation into the 5-0 pattern gave an opportunity to open long positions. If the December's maximum is retested, the junior AB=CD pattern with the 200% target will be implemented.
