THE GOLD PROFIT RUN CONTINUES
Welcome to the month that caps 2020 finally.
Last month, we published our technical Analysis with a strong recommendation to “Trade GOLD” for the rest of the year.
We made our case on Fundamentals as to why we know this was the pair to watch. We also gave references to key Price Zones & expectations for the Asset’s performance.
Now, December is in full steam & there’s still so much to take from trading XAU/USD
The chart below shows a 1-Hour (H1) TimeFrame for Friday 24/11/2020 and Monday 30/11/2020
The precious metal had again eked out a whopping 4,500 pips over the weekend into the very first week of December following our analysis.
In fact, we have analysed the next step forward for the pair in the H12 (12-Hours) chart below.
XAU/USD is projected to keep falling to the following Support Price Zones:
S1 (Minor Support) @ 1760.00
S2 (Minor Support) @ 1705.00
S3 (Major Support) @ 1670.00
Now, these are the levels to watch as we move from December into 2021.
You may be asking, “how is this is useful for me as a Forex Trader?” Simple.
Here's a 3-step guide you can implement right away:
- You either have funds in your Account or want to fund right away. Click here to fund your live account now.
- Get your GOLD or XAU/USD Charts up & running & plot out these price levels we’ve put up for you on the H4 or H1.
- Use your favorite or preferred Trading Strategy to take your Entries with appropriate Lot-Sizes.
Then keep looking out for our updates on this as we will be updating our progress weekly on the “Yellow Metal’s” Trade performance so you can remain profitable and know the exact things to watch out for.
Seasons Greetings & Cheers to your Trading success!