GOLD: A golden buy setup

FX:XAUUSD   Gold Spot / U.S. Dollar
3454 43 77
Gold             has broken the long term corrective structure to the upside, buying after consolidation above the trend line looks like a very golden idea.
Comment: we may have begun the corrective move down
Comment: ready for a break out!
Comment: possible buy opportunities around
Comment: another breakout anticipated
Comment: right now any dips are buying opportunities
Comment: buy the breakout!
Comment: possible impulse coming up!
STOPPPP--.. How Many Charts do you post within one minute :-) :-)
Look like movement
+1 Reply
piphunters trendlegends
thanks pip :)
piphunters Peter_238
my pleasure
that was very sharp did not look back to give chance those who missed the boat it was looking very sharp on 1 min chart
piphunters GoodLuckbabe
yes it didn't, but now it's retracing back, will good to buy
Nice observation, pullbacks can create nice entries. I usually work with parallels however I wanted to see where the current move sits with a fork and your chart workup......One thing looks pretty clear...the current move is at extreme based on my fork, I personally like it to close outside the fork and then close back in the upper parallel, However the fact that it pulled down pretty hard on the wide range weekly bar makes it pretty obvious that we should get some sought of pullback to equilibrium ( the median line ) around the 1180-1190 level....If it gets to that level we can then re-evaluated if it's just a correction before a larger impulsive move or a true change in direction. interesting to see.
+1 Reply
piphunters Timing is key
nice, thanks
intraday gold setup

+1 Reply
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