We have been awaiting this bullish run for months! Today 12/20 the US congress will vote on a 900 billion dollar stimulus relief package. If this relief package is successfully passed gold should give a great push to the upside. You can see on the daily timeframe if you use moving averages that we have broke above the 50 and structure was broken to give bullish...
Gold is in a very critical area on the daily timeframe because we have seen rejection here before. On the 4 hour timeframe we see that rejection wick at the previous zone. On the hour timeframe you can see the candle pattern called "3 white soldiers". If you scale down to lower timeframes you will see this same candle pattern. I want to see a retest of 1885 before...
I am looking for gold to give a correction to about 1929 then go long. We have a doji on the weekly and it is due for a correction. Also 1959-1960 is an area of rejection which can be seen on the daily timeframe.
