Hi all,
Just a little in depth chart analysis (in my opinion) why I think GOLD is going to be on a impulsive move higher.
At the start we see a small consolidation (grey box) before a flag pattern to a bullish side.
The gaps (long grey boxes) have been filled and could act as support.
There is a small consolidation at the top of the chart before it breaks into a down trend. - (the bulls taking a short breather)
This next part is only my opinion and I we have broke the first line of support, all been well the gaps could now act as support for a impulsive move higher and the 20EMA is now crossing over the 50EMA,
A Conservative entry would be at either grey boxes which would act as support - a personal entry is up to you!
This is not anyway financially motivated, This is my own analysis and all feedback is welcomed, looking forward to this move
Good luck and trade safe
L
Just a little in depth chart analysis (in my opinion) why I think GOLD is going to be on a impulsive move higher.
At the start we see a small consolidation (grey box) before a flag pattern to a bullish side.
The gaps (long grey boxes) have been filled and could act as support.
There is a small consolidation at the top of the chart before it breaks into a down trend. - (the bulls taking a short breather)
This next part is only my opinion and I we have broke the first line of support, all been well the gaps could now act as support for a impulsive move higher and the 20EMA is now crossing over the 50EMA,
A Conservative entry would be at either grey boxes which would act as support - a personal entry is up to you!
This is not anyway financially motivated, This is my own analysis and all feedback is welcomed, looking forward to this move
Good luck and trade safe
L