justatrader

Gold (Retest to 1245 - 1258)

FX:XAUUSD   Gold / U.S. Dollar
190 0 11
Left side chart is a 60 minute Gold             chart, showing a potential move to 1245, extending gains to 1258/1260 levels on a possible break out off the falling wedge

Right side chart shows a potential H&S pattern forming with neckline support at 1232 - 1228 which could see the right shoulder rally to 1258/1260

Shorting from these levels for 1232/1228 and 1200 makes for a good level with low risk (invalidated on a high above 1270)

Note the multiple inside bars on the daily chart , which could see a classic bull trap on a break above 1252.45 only to fall lower..
Trade active: Target 1 @ 1245 reached.
Trade 2 still open with stops covered to 1235, for 1258.
Trade active: BE to 1237.5
Trade closed: target reached: TP reached. Time to start looking for shorts
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out