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InvestitoreComune
Aug 23, 2017 12:28 PM

GOLD Short

FX_IDC:XAUUSD1D
GOLD / U.S. DOLLARICE

Description

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This is what I'm expecting from GOLD in then next weeks

Rectangle continuation pattern.
4 = fake breakout

Comment

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GOLD broke above soon as I expected. Now I'm waiting for a little retrace around 1300 area before taking position. Long ofc
Chart PatternsRectangleactive
Comments
faronf
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Do you think we bull through $1300 after we mark next DCL. I believe it'll be in that zone you have marked as well.
InvestitoreComune
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@faronf, Hi, yes I'm pretty confident that GOLD will go through 1300$ after this retrace. Here is a quick weekly chart. As we can clearly see GOLD broke above that huge long term trend line

faronf
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@Shizaru, was thinking the same, just wondering how much of a retrace we'll get...that long term resistance may act as support and could be our DCL zone, not sure where Fib levels are though?
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