First diagonal support / trend line is visible by which price is struggling to break for the meantime. Will it break? And trigger all those sellers and trap them on a potential long/buy trade opportunity on a potential bullish bat pattern setup confluence to the bigger diagonal support / trendline. We will see and trade with care.
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Watch out closely on this market. We could look for a reversal for a long trade opportunity in Gold.
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Could we see a potential bull run on this market? Hitting TP 1 at 1295.31?
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This setup is still valid for a potential long/buy trade opportunity.
Sir when you say trap for BO traders what does that meant? What is BO? Thanks.
TheForexSamurai
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@Jpyu, a trap for breakout traders (sellers specifically) to let them short/sell the market but there could be a potential bullish run on the market making them to lose vs who'll go bulls.
Jpyu
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@madi052893trading, Thanks got it. So we could still go long even if it will break the support.
TheForexSamurai
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@Jpyu, Something like that, yes. I am on a bullish bias in this market. Make sure to enter long/buy based on your strategy and managed risk. Good luck.
thefreedommatrix
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very interesting.. seems to coincide so well with the multi year lower support there of 1250≈
Rsi also oversold
Long too