XAU/USD (Gold) Trading Idea

Colibri Trader Colibri Trader

It has been a while since I wrote an article on supply and demand zones in real time.

Currently I am seeing a potential setup and it is on Gold.

In today’s particular setup, I am seeing a potential chance for continuation of the existing long-term uptrend.

As you can see from the image above, there is a strong demand zone, which has been tested a few times. This time, price has formed a pin bar, which bodes well for buyers.

I will be looking for the open tomorrow and if all goes according to plan and get a confirmation from the 4H chart, I might go long.

My first hypothetical target will be 1310.

My second hypothetical target will be the highs at 1350.

Author

Colibri Trader

Colibri Trader, as he is known in the circles, is based in London, UK. He Started his career in one of the leading prop trading houses at the time and then has moved out to form his own company- Colibri Trader Limited.

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