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Chadison-Brosevelt

Gold continues upwards, first target at $1535

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
Chadison-Brosevelt Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators XAUUSD Gold LONG Fibonacci Retracement
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trendanalysis chartpattern indicator xauusd gold long fibonacciretracement
Gold's recent breakout after the Saudi attack may have sparked a larger move upwards... Retraced to around 61.8 Fib level then bounced out of channel.... backtested channel and continuing upwards again. First target is 1535 with stop at most recent low 1484.50... Move could be dependent on FOMC meeting tomorrow...
Comment:
1535 is my first target because it is 1.618 times the length of wave 1...
Comment:
Looking good so far, would not be surprised by a sudden flash down... will not get shaken out unless price goes through stop loss at 1484.50
Comment:
Stopped out
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