XAUUSD LONG

Good Evening Traders !
Hope you had a lovely weekend :)

For me the week has already started, and I've kept my eyes on GOLD.

While checking the DAILY chart, I've considered this possible scenario.

GOLD is currently trading on a raging channel, with very important and specific levels.

I've left some notes on my chart to help you understand this idea.

I marked with BLACK the re-tests.
And ORANGE the break-throughs.
GREEN BARS are the raging area.
And ORANGE BAR is a certain area where I consider to be an important area for GOLD.

As you can see the pair respected both the channel and the key level.

We had a huge rejection to the downside, indicating that up is thew way !

Here we have 3 possible options:

- Either the price shoots straight up;
- We might have a re-test on a minor previous support;
- The pair go near it's previous high price back in June.


As always, your opinion matters and I'd love to hear it from you !

Feel free to use this trade yourself at your own risk, but remember to do a proper risk managment and to always protect your capital.

Wish you all an awesome trading week.