Check the Daily Chart right one first. Gold has made 2 daily doji on daily chart and now new possible bullish candlesstick. All these candles could make a strong bullish pattern on daily chart.
In my last idea on weekly chart for gold, I was looking for a retest of the red weekly support. Now seems a new leg up for a possible daily correction first. Which mean if price could rise up again to break the pressure zone on wkly chart, gold will run a "W" pattern on a big pic and could reach new high in 2020, that is 2000.
Keep eyes on 4H chart to find out a possible entry position to long for a correction on daily chart first.
RISK LOWER THAN YOUR TOLERANCE: Suggested Risk <5% Your Real Entry Position Will Make Different RR for Your Trade.
I agree with you technical outlook. Gold's heading higher . just have to wait for daily rejection on support level to head upwards. Pls what EMAs are on your charts?. Great job!
Prasad_Ari
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@FUNTRADER-Vera, I agree with you technical setup point of view, but -VE correlation with bond yields and USD.. Interest rate hikes are also headwinds for gold!! Having said that I am also bullish on gold for the Y2022