dlifestyletrader
Long

GOLD Long on Boosted Bat Formation

FX:XAUUSD   Gold Spot / U.S. Dollar
The gold has depreciated by a thousand pips since April this year. Any price lower will undoubtedly increase investors appetite to buy the gold .

Combining with the technical support of a weekly rising trendline and the completion of a bat formation at point D, that's very enough reasons to long the gold within the range of 1253 to 1240.

Comments

Gold has been weakening quite fast in the last 2 weeks.
Yesterday has finally shown some prominent slowdown.
It is best to confirm if a reversal candle pattern will be formed today before rushing in to long gold.
Reply
In the zone...hopefully up from here
Reply
Morning star reversal last week ;-)
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