I found strong support near 1.0643. Fibonacci retracement major 38.2% and upward trendline. My advice is to watch for potential buying opportunities. Target is set at the price of 1.0815-1.0825.
It is at the final stage of 3 Drives pattern, which is up, up and away stage. Gold has been favor this pattern quite a lot, let's see if this works again. First TP 1147.55 and Next 1157.11, those 2 are the clone levels.
Nice and simple first trade setup that i'll be posting on tradingview hope to continue and grow a healthy following, for each chart i'll be breaking down the steps and processes in which i took to conclude which ever idea i'm showing in bullet points allows the reader to understand it alot easier - Simple strategy breakdown and history i'm a Price Action Trader...
Taken a long position based on the following:
- Weekly bullish engulfing candle
- Broken 1.1150 resistance comfortably
This might simply be a bullish trap as we've seen in the past, however with USD weakness in the clouds prior to NFP, lets see where this takes us.
Trade safe
