XAUUSD LONG SETUP

I can see here a strong h4 demand zone.
This move was made by financial institutions because of the long leg out. There is a high probability that they have limit orders left placed exactly in our demand zone.

Further confirmations:

• possible trendline retest
  
• break of previous resistance
  
• 0.618 fib(golden ratio) in our demand - golden zone
  
• strong weekly and daily uptrend
  
• strong and fresh zone
  

Keep in mind that GOLD does not need to go down but if so, we are ready to enter.

Always wait for price action before entering.

Thanks for reading,
stibo 🥦