Gold - Start of bullish reversal?Can be the trade of the year...

FX:XAUUSD   Gold / U.S. Dollar
473 1 8
... or maybe even the trade of the next two years!

- 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.

- 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.
I am looking to buy the 1205-1215 retest area. Maybe not with leverage, but as a buy and hold I will buy small with very wide stop loss.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request