Gold - Start of bullish reversal?Can be the trade of the year...
... or maybe even the trade of the next two years!
Weekly:
- Ichimou setup turnd neutral from bearish
- Heikin Ashi setup is bullish
- The weekly resistance area is 1240-1260
In case price breaks the the longer term bearish trend line, the Kumo and the horizontal resistance area, that will be a start of a major and massive bullish move, with first tgt probably ard 1400. The arrows are subjective and theoretical, but with a weekly Kumo breakout I can immagine a longer term trend to unfold and last even until 1600.
Daily:
- Bullish kumo breakout is taking place. From now Ichimoku setup is bullish on the daily timeframe with strong support at 1200 and 1183.
- Heikin Ashi setup is bullish
- The bullish trend can be different from the one seen in January/2015, given that a move above 1240-1260 would trigger a bullish breakout on the weekly chart as well.
I do not like to be too much predictive, but this is gonna be one very interesting trade. I already enterred longs based on my last ideas (see link below). The only thing I do now is that I load more.... a lot more. And this time I do not care about what level I buy. I will buy higher, I will buy on pull backs, but I will buy. As of course I will have some bigger leverage after some time, we must keep the stop loss in focus. Initial stop is 1180.
Weekly:
- Ichimou setup turnd neutral from bearish
- Heikin Ashi setup is bullish
- The weekly resistance area is 1240-1260
In case price breaks the the longer term bearish trend line, the Kumo and the horizontal resistance area, that will be a start of a major and massive bullish move, with first tgt probably ard 1400. The arrows are subjective and theoretical, but with a weekly Kumo breakout I can immagine a longer term trend to unfold and last even until 1600.
Daily:
- Bullish kumo breakout is taking place. From now Ichimoku setup is bullish on the daily timeframe with strong support at 1200 and 1183.
- Heikin Ashi setup is bullish
- The bullish trend can be different from the one seen in January/2015, given that a move above 1240-1260 would trigger a bullish breakout on the weekly chart as well.
I do not like to be too much predictive, but this is gonna be one very interesting trade. I already enterred longs based on my last ideas (see link below). The only thing I do now is that I load more.... a lot more. And this time I do not care about what level I buy. I will buy higher, I will buy on pull backs, but I will buy. As of course I will have some bigger leverage after some time, we must keep the stop loss in focus. Initial stop is 1180.
