Here's my idea on GOLD looking at it from the 4H chart but overall from multiple time-frames the metal remains net long for example on the monthly GOLD is respecting the Fibonacci extension currently rallying towards Fibonacci ext level 1.618 ( 1855.12 ) which is just below the all time high of resistance level 1926.49 could we see a rise or even a break of this level its very possible as I've mentioned GOLD is one of those CFD'S that has kept on hitting HH despite negative data releases or even the ongoing pandemic.
The metal broke resistance level 1798.267 pushed down to retest the structure currently trading in a descending triangle which could be signalling continuation to the upside, looking for the ascending channel to hold by seeing a break above of the descending triangle structure for continuation to the upside. a break below will change the hole trading plan so kindly look out for updates on gold...
If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT
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we broke obove on the gold and seems the the trades are triggered lets see how it goes but while you are here, check out my chfjpy idea attached... appreciate it
Trade active
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Ranging in that descending triangle looking for significant moves with the bulls
Order cancelled
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Bears in control But that doesn't mean the analysis is out yet still looking for a rise in gold let's see how it goes