Gold has been bullish for the last few days, managing to penetrate the previous resistance zone but unfortunately, could not close beyond it.
I am still quite bullish on this pair and a close above the orange resistance zone, would be my entry to go long as bulls have then managed to secure the price outside of the resistance zone.
Some factors to consider: Bullish candles so far have produced strong and momentum filled canles, where the bearish candles have been small and not full of momentum.
My opinion: LONG at close beyond orange resistance zone with:
SL: 1470
TP: 1500 (it can however go way beyond this)
Trade safe.
I am still quite bullish on this pair and a close above the orange resistance zone, would be my entry to go long as bulls have then managed to secure the price outside of the resistance zone.
Some factors to consider: Bullish candles so far have produced strong and momentum filled canles, where the bearish candles have been small and not full of momentum.
My opinion: LONG at close beyond orange resistance zone with:
SL: 1470
TP: 1500 (it can however go way beyond this)
Trade safe.