wadecj84

One more push for gold

Long
wadecj84 Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
You can see how price moved to the measured move of the double bottom and got rejected at the supply zone. You can also see the 123 waves have played out. Look for wave 4 to retrace to some where between 1800 and 1815. then look for a long to 1850/60 which would be wave 5 and would run to where price intersects the downtrend line from the highs and a supply zone.
Comment:
You can see how price bounce right at the demand zone. Your entry would have been at the piercing pattern candle stick.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.