IvanIII
Long

GOLD 1D LONG on the breakout of downwards channel

FX:XAUUSD   Gold / U.S. Dollar
36 0 0
MAIN: LONG@1260 TARGET@1380 STOP LOSS@1240
(the short term uptrend and the channel temporary violation lead to breakout but have to be confirmed by both rsi and macd bullish readings)

ALTERNATIVE: SHORT@1210 TARGET@1140 STOP LOSS@1230
(after short term trendline violation if support at 1211 does not hold test of the lower side of the channel is needed)
Comment: trade is confirmed but divergences in rsi and in macd are still pointing in a different direction. the 23% fib level @1240 can be used as a tight stop even though the 38% level @1200 can offer another support

snapshot
Trade closed: stop reached: violation of the support. stop loss reached

snapshot
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