GOLD strong buy because its strong up trend . 1304 price strong buy price and last analysis already called buy. so this analysis see that same position after break high and wait for retrace and go for long and our final target 1345.00
For the week commencing 18th February I will be looking at GOLD for a trading opportunity.
There is currently an uptrend supported by TRENDLINE A - whether this line will supported again this week is yet to be seen.
There is strong support at 1,300. The next significant resistance level will likely appear between 1,360-1,365; potentially forming a second...
Gold is really interesting for me in the next trading week.
On the chart you can see my entry points.
You can see there are reasons for a little consolidation.
For trading the long scenario would be better.
no trade recommendation!
I think that Gold can move up
I will open buy if the price will break up key level $1315 and will Fix above it (1hour candle is min)
- Near that level will be low risk
- Also, price in the range. Most of the time when price break it - that move continue
If Gold will make a pullback to $1298 -$1300 I will open buy with low risk.
- Powerfull uptrend. In such situations, I always recommend to open buy on pullbacks.
- After pullback risk will be low
- Potential reward if 5 - 10 times bigger.
The middle-term goal on GOLD is $1357 - $1364
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted...