Long term weekly time frame outlook for gold. What do you see?
Daily outlook.
15/7 A nice flag forming on the H4 TF after price push above the previous significant resistance back in 2012.
Things are cooking up nicely still towards the upside...
Note
Although price breaks the flag pattern I'm looking for, the break is not significant. Price tried to break the previous high (blue line) but still closes down below and seems to move in a tight range at the H4 TF.
Retest the previous low, price broke the upper trendline and now testing the high once again. Since price is on a sideway, let the market structure makes its move first (either making new low or make new high).
Trade closed: target reached
RR 1:2
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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.