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UnknownUnicorn493766

Long for Gold..

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
UnknownUnicorn493766 Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Support and Resistance Double Top or Bottom Head and Shoulders
2
0
supportandresistance doubletoporbottom headandshoulders
Trade with the over all trade, Long.

Story line of how we arrived at the current price action displayed on the chart.

Read from the bottom and follow along to the story of how gold is regaining its strength under severe world economic conditions.
Comment:
Getting to the major level now, massive over extended run so a pull back is needed. Some deceleration at the MAJOR level and a fib retracement before a move higher would be ideal.

Alternatively a pull back to the top of the block of recent PA at approximately 1295.50 would be a good point for bulls to cool off, establish new support and have a run at the major level higher. Don't go long currently the run is away and you missed the entry.

Wait for the pull back then enter long.
Comment:
ANALYSIS PRACTICE ONLY TRADE NOT ENTERED.
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