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Gold Spot / U.S. Dollar
Long

Gold Buy?

By faddy
Updated
Gold is currently stuck in a rising flag pattern, as it stands price has sort of broken through the top trend line of the flag. It also seems to have retested the resistance as a support, which is the ideal confirmation of the breakout of the pattern. Lets see how this 1hr stick ends, if we get a good bullish stick its a buy, if it cannot close bullish and below the resistance line, we should wait to confirm the direction of the market
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When this current 30min stick ends bullish, we are going up, early entry on the 30min, stronger entry on the 1hr close
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Currently 80pips in profit, been holding since yesterday. If the current 1he stick ends bullish, we should expect more buys
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Patience pays..3days of waiting, finally paying
breakoutChart PatternsflagformationGoldLONGTrend AnalysisXAUUSDxauusdlong
faddy

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