FTE1995

GOLD: LONG - Double bottom reversal off 3 Yr trend-line + 1240

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
**This analysis links with my idea published on Jul 13th here:
TECHNICALS:

1.
- Price has formed a double bottom bullish reversal pattern off the 3Yr trend-line as well as the 1240 Pyschological level
- Neckline is found @ 1266.22
- This level would need to be broken to confirm the bullish reversal

2.
- The second bottom of the pattern broke below both the trend-line and 1240 level on lower timeframes, however on the Daily AND Weekly timeframes this produced a rejection candle
with a long lower wick below the trend-line and 1240 level

Appreciate any thoughts/comments,

Thanks for reading,

James
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