Gold Buy Idea
H4 - We got double wave down after bullish convergence. We can go long with the breakout of the most recent trend line.
Conservative Approach: Wait for the most recent high to be broken creating potential bullish convergence and then go long after correction.
Alternative Scenario:
D1 -Potential double wave forming. Uptrend line coincides with 61.8 Fibo of the first wave creating a crucial zone.
We also have divergence forming. Once the price reaches this zone, we can start looking for buys.
Conservative Approach: Wait for the most recent high to be broken creating potential bullish convergence and then go long after correction.
Alternative Scenario:
D1 -Potential double wave forming. Uptrend line coincides with 61.8 Fibo of the first wave creating a crucial zone.
We also have divergence forming. Once the price reaches this zone, we can start looking for buys.
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