bhowe

GOLD long idea

Long
bhowe Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
GOLD turned positive on the PSAR and HA candles are green. Weekly charts.
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Comment:
AB=CD pattern starting 2nd leg higher

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GOLD, finally inching over the 30ema on the daily chart. First time since April. A convincing move above it would confirm the ICL and good trading for a few weeks. The MA's are all converging and starting their move higher. The MACD is above the zero line. All good
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Gold getting oh so close. A close above the 30 dma and we will be off to some good gains.
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Looking for the H&S pattern to play out to the 200sma

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Encouraging break above the red trend line...........
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Bull flag forming.....

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Golds making a strong run on a 3rd Daily Cycle. Its at a previous point of consolidation. I expect this to be near the top.
Comment:
GOLD stalling in the consolidation zone. May pull back to the trend lines

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