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pixi
May 19, 2016 1:33 PM

Long on Gartely at 1244$ Long

Gold/U.S. DollarFXCM

Description

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.

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Comment

Trade closed: stop reached

close BE
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