Hi traders, i changed my view on gold, since price rejected and made nice bullish impulse. Price is giving us bullish price action as a flag formation, so we need to wait and watch it to complete it self with breaking below previus low which is 1832, so i expect price to push lower to around 1830 or bit lower, if price action will complete i think we can see nice ride to the upside to around 1910. Stay patient and wait for pullback to complete that pattern.
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Price didnt complete bull flag, but its breaking higher. I didnt trade it, there wasnt any confirmations for me to enter. But Im watching it closely what price will do in next hours.
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Price is coming back, so it may form runing flat but if trendline wont hold price then we migh see break of previus low and expanded flat correction. Keep an eye on it!
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We are having price action in the making, wait for retest of that trendline
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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.