Trade Plan for Gold vs US Dollar (XAUUSD)

Gold vs US Dollar

#XAUUSD

    The trand is upward. Gold is trading within the range between the 365 EMA and 135 EMA. The descending wave structure is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading Idea:

Buy upon the formation of an ascending wave structure, where wave (A) breaks through the trend channel of the truncated descending structure.

Stop Loss: below the local low of the descending structure (4170.00).

Target levels: 4218.00; 4245.80.