In my idea, because of not making Lower Low on the daily chart of GOLD, if the price can break the down trend line, it should have a retracement of the past move, so we'll wait for a break of trend line
BUT WHY ?
3 reasons are here that approves the retracement after the break :
1. RD + between down trend price and uptrend MACD
2. Not making Lowe Low on the daily chart
3. Nice Bullish Engulfing bar at the 0.618 Fibo ratio
so we'll wait for the price moves to the trend line, if we had a break, we 'll all in the uptrend of gold to 1234$
BUT WHY ?
3 reasons are here that approves the retracement after the break :
1. RD + between down trend price and uptrend MACD
2. Not making Lowe Low on the daily chart
3. Nice Bullish Engulfing bar at the 0.618 Fibo ratio
so we'll wait for the price moves to the trend line, if we had a break, we 'll all in the uptrend of gold to 1234$
Order cancelled
but it didnt break
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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.