JamesBrown

Conditional Long on Gold - Cypher Pattern

Long
JamesBrown Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
This long trade may take a while to set-up and it may never come into fruition. However, if price does reach point D of the Cypher pattern shown on the chart, then we have a play.

I don't see a lot of structural support for the trade (not too much horizontal price support at point D), but I still see it as an attractive trade since I'm bullish on gold in the intermediate to long term (3 months to 6 years).
Comment:
Spicing up a bit...still on watch.

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.