XAUUSD is getting closer to a new level with a growing trend

  • May 24 2021
  • by
  • Analyst AZA
XAUUSD is getting closer to a new level with a growing trend

XAUUSD is getting closer to a new level with a growing trend

The Gold rate has been in an upward trend for several days. The price did not cross the 200 average on the hourly chart for a long time, which shows traders that the trend is valid. A strong resistance level was formed at the price of 1890. The price has already approached it several times and bounced down. The breakout of this level will serve as a good signal to open a long position. It is better to place a take profit at the flat level of 1900, since a large number of multidirectional orders always accumulate at such levels, and it would be more correct to fix profit on it.

Symbol: XAUUSD
Order Type: Pending Order - Buy Stop
Entry Price: 1890.00
Take Profit: 1900.00
Pips Earning: 1000

As a result of a trading recommendation, the price reached Take Profit on the same day.

As a result of a trading recommendation, the price reached Take Profit on the same day.

 

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The profit can be $1000.00 if the trading volume of 100 Tr. Oz.

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