In daily timeframe, gold broke out of the descending channel and doing do formed a double bottom (almost a triple bottom ;-)), if we can see a pull back to 1735 it would be a good buy zone with TP of 1858.
Note
If you have opened a buy position at 1737 i would recommend you to hold to it and wait for the target of 1858. It might take another two or three weeks.Note
The price is going up and is near our target. It will probably reach the target within this week.Trade closed: target reached
Target reached on Friday Jan 6th.
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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.