Kumowizard
Long

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!

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.
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.
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