If it breaks the 0.886 fibo level, that is, 2088 and opens 1 candle on it, the target will be 2132, but we can see the correction movement from the box I checked, then the target will be 2027,
You can examine how important the breakdown is from my previous analysis, so follow it carefully, I will update according to price movements, please stay tuned
today, we approach the most important side of positional trading. highly important to the ones without decades of active gold trading experience.
as all is pointing to gold moving uP, it is highly likely that also this time it will not happen in straight line.
that means, logic and responsible trader cannot rule out a powerful move down before resumption of...
A break above the confirmation level will give us assurance that our wave count is correct, then Gold has finally finished it A-B-C correction, which its B was made up of a triangle structure,,,
The target for this trade is the High of the year (2075)
As you can see in the area I marked with the yellow box, gold broke the bearish channel while inside the bullish channel and this means now that it will rise up to 1.414-1.618 fibo levels, I expect it to go to the target from the area I marked as the support zone
Please like the idea for Support & you can share your ideas and charts in Comments Section .. !!
⁂ BUY zone: $1820-$1900
↳ the rest of the analysis summary, shows at the chart
feel free and welcome to comment and post your own idea and forecast.
Remember: this is a positional trade and I may share opposite trades during the coming weeks. this is my core INVESTMENT approach and less frequent trading orientated.
good luck !
I drew both the rising channel and the falling channel and the gold seems to have broken them now, so we have 2 target zones.
I would be glad if you share your own ideas as a comment under the analysis.
Price is in a range on the 4H. To play the range: buy the bottoms and targets the tops and sell the tops and target the bottoms. Do not target higher or lower than the consolidation range until it breaks. When price breaks wait for a retest/ HL/LH to enter for a longer term and bigger targets. This is much safer then trying to call the breakout and end up getting...
- Price reaching our first goal of 2020.
- We are expecting a break and retest and a move higher to our higher high.
- Preço próximo de atingir o nosso objetivo de 2020.
- Estamos de momento a aguardar um break e retest da nossa zona e um move maior até ao nosso alto mais alto.