Long Gold. Convergence of moving averages. Bullish sign.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
275 0 12

A convergence of moving averages can be observed in the 4h chart. Gold             has often taken off during a convergence. It is not uncommon to receive bad economic data during the convergence.

First target 1273. Second target 1300. I will update the idea as we go along.

TF shows moving averages as support. Targets on Fibonacci retractment.
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