After all this huge ascending we had, it is clear that Gold is a Buy: huge sideway channel we had since some weeks ago has been broken upwards and broken well, with a solid confirmation.
Now, before going any further, Gold has to correct: lot of mid-term buyers may want to take their profits. I´d expect it to correct to a Fibo 50% line as it looks like a solid support but do not discard going back to the flag line (black) and have some sideway trading there...
Notice RSI is heavily overbought on 1H and 4H timeframes, daily and weekly also approaching to overbought zone
Entry point: Monday by market
SL: 1301
TP1: 1284
TP2: 1273
TP3: 1266
Now, before going any further, Gold has to correct: lot of mid-term buyers may want to take their profits. I´d expect it to correct to a Fibo 50% line as it looks like a solid support but do not discard going back to the flag line (black) and have some sideway trading there...
Notice RSI is heavily overbought on 1H and 4H timeframes, daily and weekly also approaching to overbought zone
Entry point: Monday by market
SL: 1301
TP1: 1284
TP2: 1273
TP3: 1266
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
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.
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
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.