GOLD is showing some clues of possible trend change. If price stays on top of the last highs the price structure changes from making lower highs to making a higher high. This can indicate from a accumulation and growing bull force.
As long as we stay on top of these previous highs I'm short term bull.
Ofc there is also the huge 12 year cup and handle pattern which would indicate of higher prices probably around 24-25. Targets 2500-3000 per ounce (I'm Long Term Bull)
Tell me if you would like a more in depth update about the 12 year GOLD cup and handle structure
-Jebu
As long as we stay on top of these previous highs I'm short term bull.
Ofc there is also the huge 12 year cup and handle pattern which would indicate of higher prices probably around 24-25. Targets 2500-3000 per ounce (I'm Long Term Bull)
Tell me if you would like a more in depth update about the 12 year GOLD cup and handle structure
-Jebu
Comment:
Remember. This doesn't mean that we can't break downwards. ALWAYS be open for both possibilities
Comment:
Gold trade, stop loss hit. This is part of the game.
I highlighted the 200EMA. Which has been demonstrated many times as a support. If price would get there. I'd say that is a great place for long and for Risk/Reward. (Not financial advice)
I highlighted the 200EMA. Which has been demonstrated many times as a support. If price would get there. I'd say that is a great place for long and for Risk/Reward. (Not financial advice)
Defending this level buyers showed who is in control right now.
And this is why break and retests are Golden Risk/Reward entries.