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Jan 7, 2021 11:51 AM

GOLD LONG MACRO FALLING FLAG Long

GOLD (US$/OZ)TVC

Description

Here we can see that after an initial break out of the falling flag proceeded by the formation of a hammer on the daily just beneath the channel gold has come back to retest the area. Support around the 1900 mark could be a catalyst for uptrend continuation. A daily close above the channel could see the start of a big move. S/L will be defined by a rebound from the 1900/channel area TARGET area will be a retest of the resistance in the upper areas of the flag, with a possible revisit to highs. I will take multiple positions to allow for macro continuations to be longer term runners as we may establish a base above 2K in the longer term. If we ever needed a catalyst to make the move happen there is PLENTY of them in the world at this time. Peace to fellow traders.
Comments
Touqeer87
Nice comparison but u didn't specified any entry
Touqeer87
can you help me where to enter ??
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