Looking at different timeframes in Gold, I came up to just wait and see if price will keep moving to the down and see if it reaches the lower parallel of the median line. In that case I will start watching for a buy setup completion being more confident as the parallel has previously acted as support.
But ot reversed from support 1260 and nice price action h4 timeframe and daily reversal candle. I think first target is 1295 then maybe go down.
akadibaba
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Thanks for pointing this out. I had missed the upward sloping trendline from the weekly/daily lows, but was thinking along the same lines to possibly drive up. However, mine was based on the previous role reversal of support/resistance around 1270. It's good to see confluence between different analyses.
ofa
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Nice chart. I would highly appreciate if u update it when it is ready to buy. Many thanks
Fxprotrader
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@ofa, Entering a market requires a backtested strategy you should have. But i will update if i have a setup based in my strategy