I am liking what I see on Gold. Price broke a down trend line from the Daily Time frame and it seems price is on its way to the Monthly Pivot at 1228-1232
Dropping to H4 & H1 Time frames:
- If price is able to retrace to 1172- 1176 area and gives a bullish sign (bullish engulfing candle, Pin Bar with long shadow, tweezer bottoms, Morning Star, etc ..). Any bullish candle stick formation; THEN I would be a BUYER of Gold
Alternatively, if Price does break the highs, I will also buy Gold and cancel and replace until 1230 level.
Dropping to H4 & H1 Time frames:
- If price is able to retrace to 1172- 1176 area and gives a bullish sign (bullish engulfing candle, Pin Bar with long shadow, tweezer bottoms, Morning Star, etc ..). Any bullish candle stick formation; THEN I would be a BUYER of Gold
Alternatively, if Price does break the highs, I will also buy Gold and cancel and replace until 1230 level.
