From the Friday closed price.
We saw a breakout around @1321 ( Fibonacci Retracement 0.786 ). This mean Gold can create a new high level above this area. If you see the price movement around July 2016 until the September 2016. Gold was move inside the Descending Triangle until the price breakout the Support Line and traded below the @1300. From that information, I see no Major Resistance above @1300 which is this could be a strong rally for Gold.
Next target for Gold should be around @1337 and maybe @1355.
I still hold my Buy around @1293 and still hold my Stoploss @1294.
After the breakout happens @1321, I think it's time for us to move our Stoploss.
Good luck and have a nice profit!
Please help me to click the " Like " button if you think this analysis help you.
Thanks and peace!
We saw a breakout around @1321 ( Fibonacci Retracement 0.786 ). This mean Gold can create a new high level above this area. If you see the price movement around July 2016 until the September 2016. Gold was move inside the Descending Triangle until the price breakout the Support Line and traded below the @1300. From that information, I see no Major Resistance above @1300 which is this could be a strong rally for Gold.
Next target for Gold should be around @1337 and maybe @1355.
I still hold my Buy around @1293 and still hold my Stoploss @1294.
After the breakout happens @1321, I think it's time for us to move our Stoploss.
Good luck and have a nice profit!
Please help me to click the " Like " button if you think this analysis help you.
Thanks and peace!
Trade active:
Well, I don't expect 1337 get hit today.. But, I think it's good.. cause next is 1355.. Let's rock guys!!
By the way I raised my Stop Loss @1316 right now.. Good luck
By the way I raised my Stop Loss @1316 right now.. Good luck
