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VRShaiju
May 1, 2021 5:56 AM

Gold bull 1st week of May Long

Gold / U.S. DollarFOREX.com

Description

Gold price started to consolidate in the last two weeks after a terrific bounce. The trend continues to move high and get pause between 1803-1810 region. Maybe NFP will become the catalysts.

Reason for bullish
  • Gold price closed above the 1765 resistance which is the broken level in Feb 2020
  • Gold price did not made strong rejection after hitting weekly MA20
  • Gold price did not run below daily 20MA
  • Gold price didn't complete the 100% fib correction yet
  • New Month New candle pullback
  • New week New candle to MA20 retest


My recommendation to buy till new high

Comment

All OVER - Wait for NEW ONE
Comments
andreeadadai
Fir ho
andreeadadai
Yes
Sandro29
Nice thx, would you buy in the box?
VRShaiju
@Sandro29, Not immediately. I need to see price action reversal before buying
BabyLuck
agree
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