On daily view, Gold has completed a gartley Bullish with a clean 0.618 retracement of the AB Leg.
I'm expecting some PA on this level ($1243/1244) while targeting $1288.
Catching the upper boundary of the rising channel to complete a classic AB=CD, with D point at 1$342 may be difficult but nothing is impossible in trading, especially with gold.
Obviously, If the pattern fails and if the channel is broken, this could be a strong sell signal with $1225, $1190 and $1165 as targets.
I'm expecting some PA on this level ($1243/1244) while targeting $1288.
Catching the upper boundary of the rising channel to complete a classic AB=CD, with D point at 1$342 may be difficult but nothing is impossible in trading, especially with gold.
Obviously, If the pattern fails and if the channel is broken, this could be a strong sell signal with $1225, $1190 and $1165 as targets.
Trade active
Comment:
Trade closed: stop reached:
close BE