Gold found support and looks ready for move higherFrom the beginning of the year gold was in uptrend from $1179 to $1392 (around 20%) then sold off from highs but found some buying support $1268-$1278 (around 50%-61.8%).
ENTRY:
This pullback is still controlled and with this
1) doji candle bounced off from support zone it gives me entry with tier1 then
2) I will add if it will hold above moving averages ($1300) and
3) another point will be break up of trend line @ $1310
STOP:
1) below low of doji @ $1277.13
2) below $1268 support zone's low
TARGET:
1) 200 MA @ $1320
2) swing high @ $1330
Doji
AUD vs JPY Doji at SupportLooking at the AUD VS JPY we see price stalling at support @ 95.151 as price has formed a doji candle stating indecision and stalling momentum. Look for a close above the doji candle to enter a long position. If price forms a lower close then we know we are wrong and we do not enter a trade. Keep in mind that a doji candle is not a reversal signal but rather indecision. A conformation would be a close above the doji as price would then show that the buyers have entered the market and attempting to take over. Have a great trading day and God bless!