💛If gold can hold $1780, we can go long💛
Gold broke major resistance level at $1,780 - a huge monthly resistance level.
This is a very bullish sign, but it’s a little early to pull out the gold $2k shirts and caps.
To validate the break of this level we want to see gold push away from this level and create some time and space, this will give the break more weight and confidence.
Time and space away from the $1780 level is key, this is a monthly support and everyone has their eyes on this level, and can be a great place for experience traders to trap newbie who are going long right now.
’ll be watching this level closely and if we can keep above this level for several days, I will wait to see if we re-test the $1,780 level this time as support, I’ll be looking to go long, looking to take profits around $1835, with a stop near $1760~.
Have a question about this breakout? Feel free to leave a comment below.
This is a very bullish sign, but it’s a little early to pull out the gold $2k shirts and caps.
To validate the break of this level we want to see gold push away from this level and create some time and space, this will give the break more weight and confidence.
Time and space away from the $1780 level is key, this is a monthly support and everyone has their eyes on this level, and can be a great place for experience traders to trap newbie who are going long right now.
’ll be watching this level closely and if we can keep above this level for several days, I will wait to see if we re-test the $1,780 level this time as support, I’ll be looking to go long, looking to take profits around $1835, with a stop near $1760~.
Have a question about this breakout? Feel free to leave a comment below.