GOLD (XAUUSD) Everything You Need to Know

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By VasilyTrader



 To trade wisely gold next week here are the main points to consider.

 higher time frame perspective (daily/weekly):
- market is in a strong bullish trend
- market is approaching a weekly resistance
- 1779 - 1802 is a strong weekly resistance cluster
- 1738 - 1749 is a strong daily support cluster

 lower time frame perspective (4H):
- market is in a strong bullish trend
- market is stuck in a horizontal accumulation area 1760 - 1786
Though long positions remain our priority, we should be careful with a price action around a weekly structure.
analyzing 2011-2012 perspective the price can easily start a strong bearish rally soon.

 with high probability current structure high will be retested this week.
look for a reaction of the market and short only after a strong confirmation.

 same thing with long trades,
take longs from a support of the 4H range with a decent confirmation,
or from a daily support cluster.

 No rush, it is very easy to be stopped out on gold , so entry areas must be the safest.

 Good luck next week!

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