FullTimeTrader
Long

GOLDEURO-nice long opportunity

FX_IDC:XAUEUR   GOLD / EURO
476 2 16
Everybody is looking at USGOLD now, here i found a clear long term opportunity to buy gold             .

This setup is also supported buy Elliott Waves but i think the technical analysis is enough.

Looking at W1 chart we have:

- Price bouncing from trendline support
- 0.61 fib retracement
- bullish hidden divergence
- AB=CD pattern (weekly)

snapshot


Here on D1 chart:

- bullish divergence
- another AB=CD pattern
- strong structure
- typical false breakout (this setup offers a R/R at least 1 to 2)
- engulfing bullish candle
- 1.61 fib projection

Best regards.


Comment: first target reached
love it
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This is my fav pair of gold and now I will be going short from here...Regards
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