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nivelij01

Expecting a small retracement before moving higher

Long
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
nivelij01 Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
DMI Support and Resistance Exponential Moving Average (EMA) Gold
2
0
dmi supportandresistance ema gold
GOLD is currently trending high but ADX(40,40) indicates the trend is not that strong (index < 25) compare with the previous downtrend (index ranging between 25 and 28).

TP1 at 1200 has been executed and I'm expecting the price to retest EMA(20) and EMA(40) before it is going towards next S&R (1250). For me, this will be the my TP2.
Comment:
Apparently GOLD at the moment is indeed having problem crossing over 1220 level and is not even breaking out EMA(100). DMI(40,40) is still hovering from 21 - 23. Interesting to see if the retracement will happen by end of this week.
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