Rational for bullish sentiment:
After a full week of sideway consolidation price broke the high and had a bullish run; this makes the most recent trend bullish for which we had a 61.8 candle body retracement.
We broke out of a small consolidation box and retested
May 14th, 2024
Entered at 2350 w/ 190 pip SL accounting for Gold large range
I will take partials at 2372 and if price shows any bullish patterns at this level I will take second TP at 2390 which coincides with 1.272 fib extension
After a full week of sideway consolidation price broke the high and had a bullish run; this makes the most recent trend bullish for which we had a 61.8 candle body retracement.
We broke out of a small consolidation box and retested
May 14th, 2024
Entered at 2350 w/ 190 pip SL accounting for Gold large range
I will take partials at 2372 and if price shows any bullish patterns at this level I will take second TP at 2390 which coincides with 1.272 fib extension