i think this is a good chance to go long.. *classic pinbar/divergence but 17/10 due date to debt celling anything can happen i maybe wait until all the fundamentals clear and if we break the high of that pinbar on daily close i would go long.... with 1st target is 22.50-23.00
PA continue to make Higher lows suggesting a higher chance to breakout to the upside.. but should wait for the fundamentals news for a clear way :) If the US gov does have a partial shutdown, GOLD "SHOULD" SOAR. but stranger things have happened.
i think this Pattern is still valid
"This move was really needed today, too much more time sideways and it would become invalid.
If this rally gets some real legs, the move up could begin to resemble the downward spike in April that created a further bearish period.
If the neck breaks which just at a glance now ...
maybe we gonna see a similar move like in the teal box.. so far the fibs are acting as a very good support and resistance we may run into a lilttle bit of trouble but i think the bulls gonna take over considering the PA from last 2 weeks... if so i think 1550 is possible..
1st time publishing idea feel free to to give advice and comment i think we gonna have a bit of retracement maybe somewhere around 1384-1390 before we go back up and test the 1422-1430 area.. that break of the trendline and the line from decending triangle must mean something.. only 3 dollar shy from 1400