GOLD - Are we breaking out?
Updated
We have been ranging on the higher time frame since April 2024 after we broke a decade long resistance and created an all time high. But what about now and coming week's?
Technical
→ We broke a trend line.
→ We keep respecting the support level at around 2290. Three times now.
→ Monthly closed DOJI which is bearish signal but 3 & 6 Monthly closed in the green. Weekly is also green.
Fundamentals
→ Friday NFP
Check investing.com or forexfactory.com to see the data release on your timeframe.
→ DXY is struggling to break resistance.
Trade
→ NFP is very important. I want to see how we close this week
→ We need to confirm the trendline by closing above the previous daily high. If we do we can go to the next zone.
→ We broke a trend line.
→ We keep respecting the support level at around 2290. Three times now.
→ Monthly closed DOJI which is bearish signal but 3 & 6 Monthly closed in the green. Weekly is also green.
→ Friday NFP
Check investing.com or forexfactory.com to see the data release on your timeframe.
→ DXY is struggling to break resistance.
→ NFP is very important. I want to see how we close this week
→ We need to confirm the trendline by closing above the previous daily high. If we do we can go to the next zone.
Note
Gold confirmed break out of the trend line with a strong bullish candle which even broke previous zone. Based on the charts biased is bullish on the short term. [image[
Note
We broke out as predicted in my analysis. Congrats to all buyers. Did you not profit the wave up? Here are new opportunities for you in scenario 1 and scenario 2 both looking for long play!. BE AWARE OF THE POTENTIAL GAP BECAUSE WHEN MARKET OPENS ESPECIALLY WITH ASSASINATION ATTEMPT TO TRUMP
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