GOLD Long. Long

FX:XAUUSD720

Gold/U.S. DollarFXCM

Description

⋅ May 12, 2020 9:35 PM

Simple trend following AB=CD move setting up, targeting ~$1850.

Trade triggers on break of $1725 area.

Comment

⋅ May 14, 2020 9:40 AM

Bulls Beware....as things stand, the approach to the 1725 break out level, is a little to steep and eager for my liking.

Would prefer to see a healthy retrace back into range, before I would be willing to hit the LONG button on break of $1725.

If it breaks within the next day or two, I would wait and see whether price wants to hold above this level, before getting bullish in earnest.