We recently saw the break of a relevant 4h trendline. Currently we are sittin in consolidation. If we break this consolidation to the downside i will be looking to sell anticipating another bear impulse.
Keep in mind that the overall trend in gold is up now and this break will most likly only indicate a longer term abc correction (on the daily timeframe) since that massiv upmove so far this year. after that i expect gold to go higher.
Keep in mind that the overall trend in gold is up now and this break will most likly only indicate a longer term abc correction (on the daily timeframe) since that massiv upmove so far this year. after that i expect gold to go higher.
Trade active
but a simple 1:1 and 2:1 - two target setup will work as well.