Gold - within triangle - buy on 1H - entry at 1390 $
Market price holds well above 1400 since start of the new trading week but I expect a soon down movement correction and with that a new chance for big buyers to come into the market. Once a daily candle close above the triangle trend line and 1412 $ resistance line we can expect really fast up movement to 1500 $ - 1550 $.
RSI and MACD are both near support line on 1H chart but have still space to correct downways.
In most of the cases is a triangle formation like this after a strong up movement followed by another strong up movement with take profit at drawn sell area.
RSI and MACD are both near support line on 1H chart but have still space to correct downways.
In most of the cases is a triangle formation like this after a strong up movement followed by another strong up movement with take profit at drawn sell area.
Trade closed: target reached:
Tp1 reached within 1 day - hold for more profits in long term
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
