Finding a good place to go long is key, and I believe today it is a very good spot to do just that. Corrective with divergences on all three oscillators, and a false breakout below the local support.
I allready made a partial entry last night, but I want to see some momentum to enter with a full position.
Stop under yesterday's candle. First resistance at 1330$, and then at 1400$.
Thanks for sharing your ideas., your chart work is terrific. All the best to you in your trading.
I actually trust this trade a lot, it's a very clear picture. I've been waiting for it for quite a long time, everyday I have been checking the price of gold, and it is not an instrument that I follow closely, like the US indices. I have not fully put up a long position, as there is no momentum. I have only one contract, risking less than 1% of my equity, so I say bring on the 1260 level, I will still want to go long below it. Thank you again!