XAUUSD: New buy sequence started. Still early to enter.

XAUUSD has closed the last three 4H candles over the 4H MA50, turning the 4H timeframe bullish (RSI = 58.063, MACD = 1.870, ADX = 29.244). After the yesterday's Low at the bottom of the 4H Channel Up pattern, this is technically the new bullish sequence that aims at pricing the next HH at its top. The 4H RSI rebounded at the same level as on the July 06 Low.

If the new HH leg is similar, then it should make a +4.33% rise, which conveniently falls just under the 0.786 Fibonacci level from the All Time High. We are buying this technical signal, targeting the Channel's top (TP = 2,035).

Prior idea:

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