mcpeacocks
Long

Long on Gold daily

FX:XAUUSD   Gold/U.S. Dollar
428 4 4
weekly chart shows falling wedge , and we just had a clear rejection at 1142 level, with bullish engulfing on weekly chart
RSI and stochs pointing upwards on daily; overbought at 1 and 4hr.
seeking entry point at hourly chart around retest of previous structure around 1175
Targets go at 0.5 and 0.764 fib levels of last swing: 1226.09 and 1268.87 respectively.
There is the possibility that the wedge will break out to the top, so the second TP can be kept open....
comments much appreciated.
good luck!
mcpeacocks jangseohee
maybe! seems to coincide with my TP1
snapshot
so will keep an eye on it!
would possibly also match up with dollar regaining strength middle to end of next week?
+1 Reply
I have a similar chart. I think TP1 looks good since previous high lines up with fib 50.
Reply
I agree
Long attempt on Gold
+1 Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out