Long position looking at an overall trend continuation from the daily time frame, scaling down to the hourly I have marked a previous support level, additionally the 200 ema is acting as dynamic support/resistance for the trade. Looking for gold to reach the all-time high level. This analysis is relating to a swing trade.
I used technical analysis. I based my trade on a parallel descending trend channel. I firstly noted a fakeout of the trend line, this was then pulled back to respect the trend channel and the key level of support at 1.31422. This is where I marked my take profit as I expect the price to retrace back to this level. I entered at the key level of resistance I marked...
