Razvan
Long

GOLD - Bullish Signals

FX:XAUUSD   Gold/U.S. Dollar
False break below support area, possible hammer, positive divergence on the 14 RSI , Falling Wedge - these are some bullish signals which might announce a rally for gold             . The probability for an up move to start will increase once the upper line of the wedge is broken. First target for a rally would be the 38.2 Fibo level. I will consider this idea invalidated if the price will close on a 60 minutes chart below 1.1220.

Related Ideas

Razvan great stuff-saw the same setup-will be nice to form a RHS and hit confluence of previous resistance at 1141 -1146 area before another bigger setback!
+1 Reply
Razvan
a year ago
Basically this idea was invalidated by the last candle, buuut...i will keep my eyes open for an up move. A bigger swing high could be on the way.
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Oskar
a year ago
cool
Reply
BCMel
a year ago
Uh oh, support level breaks. Does this significantly change your bullish position?
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