After a 5 month bumpy downtrend for gold, it finally seems to turning upwards... it broke from the bottom of the downtrend in red and there is confirmation by a brothers grim.. (Using heikin ashi for to see future trend better)... But, black horizontal arrow is place where R1 and the 50 day moving average meet so if it can keep bullish volume and stoch is shows strong pricing power, it should be able to get over that hump... if it does enter long there but set alerts at both blue arrows. If it rejects and pullsback, wait for retest to see if it works.. if fails, consider a short...
Refer to UUP/ DXY as charts that should be inverse of this one...
Let me know with questions.
Constructive criticism is always welcome...
Refer to UUP/ DXY as charts that should be inverse of this one...
Let me know with questions.
Constructive criticism is always welcome...