XAU/USD: the gold is going up
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Recommendation:
BUY 1238 SL 1223 TP1 1263 TP2 1270 TP3 1287,
BUY 1230 SL 1215 TP1 1263 TP2 1270 TP3 1287
On the daily chart of XAU/USD, the correction to the downward middle-term trend continues. Bulls move towards the 161.8% target of the AB=CD pattern. They keep the situation under control. That's why the reversals with the following rebounds from the supports at 1239 and 1230 can be used to open long positions.
On H1, the pair reached the targets of the "Wolfe Waves" and "Shark" patterns. It increased the risks of the reversal towards the 23.6%, 38.2% and 50% targets of the CD wave as a part of the transformation into 5-0.
