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The XAUUSD hitting the lower limit of a strong parallel supports.

I'm expecting the price will jump-off from there.


In the chart from way back, the signals moved evenly in sideways.

At 1304.277, the market got broke out and turned the trend towards down.

After a change in trend, the chart printed an impulse to catalyze the conversion process.

In a 4hr time scale, the price range hanging at 1263.182.

The market formed an impulse and its correction in a constant manner.

From here the market may move in two ways.

It may form another direct and steady impulse to top.

or else it will form a small correction to gain the potential for a jump.

In that scenario,  the signal forms a correction to stabilize the movement and then it will form an impulse to reach the top.

In case the signals continued to travel as a correction means, end the trade at 1252.760.



SIGNAL SPECIFICATION:

Pair: XAUUSD

Order: BUY

Entry: 1263.182

Pending Entry: 1259.311

Take profit: 1284.098

Stop loss: 1252.760

Risk Vs Reward: 2.01

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Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

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Forextamil
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