Gold 16/9/2024
Current Trend: Gold is in a strong uptrend across multiple timeframes, confirmed by breakouts and higher highs and lows.
Buy Strategy: Look for buying opportunities as long as the 30-minute chart maintains its bullish structure:
Wait for Bullish BOS: Look for a bullish Break of Structure (BOS) on the 30-minute chart to confirm continuation.
Stay Above 20 MA: Ensure the price remains above the 20-period Moving Average (MA) on the 30-minute chart.
Signal for Deeper Correction:
Breakdown Below 20 MA or BOS 30 min down: If the 30-minute price closes below the 20-period MA, it may signal a deeper correction. Watch for further lower highs (LH) and lower lows (LL) for confirmation of a trend reversal.
Buy Strategy: Look for buying opportunities as long as the 30-minute chart maintains its bullish structure:
Wait for Bullish BOS: Look for a bullish Break of Structure (BOS) on the 30-minute chart to confirm continuation.
Stay Above 20 MA: Ensure the price remains above the 20-period Moving Average (MA) on the 30-minute chart.
Signal for Deeper Correction:
Breakdown Below 20 MA or BOS 30 min down: If the 30-minute price closes below the 20-period MA, it may signal a deeper correction. Watch for further lower highs (LH) and lower lows (LL) for confirmation of a trend reversal.
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