Gold: GOING LOOONG??
I see a turn to the upside on Daily time frame, an engulfing candle to be precise. I am anticipating a turn to the upside on Gold. Here's my reasons why?
1.Weekly candle closed above 1265 level (38.2 Fibb retracement level) with a a long wick
2. Weekly up trend line respected
3. H4 down trend line broken.
I'll wait for a retest on the H4 trend line if that is respected i"ll go Long with first target at 1296.50.
1296 has been our previous resistance for at least 3 times.
Please comment and lets share. :)
1.Weekly candle closed above 1265 level (38.2 Fibb retracement level) with a a long wick
2. Weekly up trend line respected
3. H4 down trend line broken.
I'll wait for a retest on the H4 trend line if that is respected i"ll go Long with first target at 1296.50.
1296 has been our previous resistance for at least 3 times.
Please comment and lets share. :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.