dlifestyletrader
Long

Gold: Trend Turned Bullish, Awaiting Retracement

FX:XAUUSD   Gold Spot / U.S. Dollar
The gold has broken above the key price of 1300 soon after it has broken above a 3-month falling trendline .
The trend has clearly turned bullish brought forth by a significantly bull strength.
Since the price broke above 1300, it fell into a consolidation yesterday and the price continues to retrace lower.
A retracement channel has been plotted to determine the end of the retracement which can be seen right at a rising trendline and the breaking point of 1290.
Thus, wait for the price to complete the retracement channel and look for buy opportunity at the bottom around 1290.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out