Gold is on the rise
Updated
Hey!
I just quickly want to recap what might be happening on GLD now!
The two red lines are support 'areas' that I use to predict possible changes in the price.
If price does break out, I can easily see it going to the previous high - 1263 - with a stop at 1257.
I just quickly want to recap what might be happening on GLD now!
- It is forming a very often seen breakout formation.
- While I'm speaking it's already moving higher.
- I believe that if the white box is left, it's a good place to buy.
The two red lines are support 'areas' that I use to predict possible changes in the price.
If price does break out, I can easily see it going to the previous high - 1263 - with a stop at 1257.
Note
We are getting closer to the upside of the white box. Watch out.Note
AND THE BREAKOUT HAPPENED! Let's see if we reach the targets.Note
1256-1257 is the first target before 1263Note
Once again, the prediction was correct. First target was hit.Note
Now we're track on to hit the second target.
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