We all thought gold was gonna go down because of the daily pullback but after today we have confirmation that we could see gold go for 1350 area already this week.
On the H4 timeframe the price went down around previous low (not exactly), made a new higher low instead, didn't break the trendline and as a gift we received hidden divergence which means trend continuation.
We want the price to close above the small H4 resistance to get the last confirmation before we open any positions.
If we do see a breakout out of the weekly upper channel we could see the other levels to be potential targets.
On the H4 timeframe the price went down around previous low (not exactly), made a new higher low instead, didn't break the trendline and as a gift we received hidden divergence which means trend continuation.
We want the price to close above the small H4 resistance to get the last confirmation before we open any positions.
If we do see a breakout out of the weekly upper channel we could see the other levels to be potential targets.
Comment:
Gold broke the previous high and retraced down and going back up now.
Comment:
Trade was manually closed before Friday market closure. I believe that we could see gold start going down from this area.