TVC:GOLD CFDs on Gold (US$ / OZ)
On daily TF, a pattern is in play, this has formed after a rejection of the major . The targets for this pattern would be below the blue , so expect resistance at this area. If the blue is broken, price should test the major , which is where I have placed the next profit target (TP 2). The counter can be used to place the stop loss, as a break of this would invalidate the pattern. The right shoulder falls at the 50-61.8 fib reatracement zone, adding further confluence to the setup.