More or less would prefer a Bullish breakout and have a nice retracement on previous strong support as it would be connect with daily and weekly bullish bias with the support, that said it could also break from below but with the us dollar gaining strength i assume it would be better to long
since Gold is highly volatile and dollar being weak makes it more shaky, so my personal plan is wait for the fib retracement or till a really good confirmation comes out, but as of now it broke the triangle/trendline. Was actually tempted to take a short but strictly reminding myself that I shouldnt gamble. Will update soon!
A nice 1.5 RR, all depends if price gives us a good confirmation for the fib retracement on the 50, that said all is speculation and it all depends on how price will move once it reaches between 38.2 and 50.
If price gives a good signal in the 1h time frame it could give us a good long signal as this can be interpreted as a pullback, can't give exact TP/SL as we still don't know where the price will give us and if price will even give us a signal for the trade, our resistance turned to support zone was plotted in the daily chart. Lastly will use a Fibonacci tool to...
A good pullback from a good keylevel, will wait for a good confirmation next week on the 1hr or 4hr time frame. If price suddenly gives a signal candle at say the edge of our plotted keylevel, a good 1:3 RR ratio is possible
credits to DeGRAM as this was based from his idea for the trendline, but I will take a different approach as price has indeed reacted to it but failed to make price reverse, price is nearing a good resistance and I think with the bulls slightly showing weakness it will indeed make a retracement from said resistance, then finally once it reaches the trend line if...
price has broken the trendline and candles in lower timeframe indicating a continuous move above, already got a nice 132.00 entry earlier, looking to either take my profits on 132.40 and wait for another long on 132.76 or 132.57 depending on the candlesticks
feedback is very welcome thanks :)
Hi! First published Idea, strongly think that once it reaches 1.22647, and gives us a good confirmation on the lower timeframes we can take a good long position. I think price will come down from its sudden breakout of an impulse to correct itself and it will safely land in 1.22647. Will watch this carefully, will take a conservative 1.23640 take profit as of now...
