Gold is looking ready to make a move towards breaking from its multi-year correction.
We have the 50,100 sma crossing bullish - something which hasnt been seen since $225 and the start of the previous bull run.
We also have a bull flg forming on the shorterterm, which if it breaks to the upside, the target of c.$1400 would represent a break attempt of the Head and shoulders bottom. from which we would likely see a retest of the $1350 range.
Assuming bullish momentum continues we would see a (relative) fast break to $1750 where we would find out if we will double top or look towards a much much larger breakout towards $5k, but this is too far into the future to consider trading for me today.
Best
filbfilb
We have the 50,100 sma crossing bullish - something which hasnt been seen since $225 and the start of the previous bull run.
We also have a bull flg forming on the shorterterm, which if it breaks to the upside, the target of c.$1400 would represent a break attempt of the Head and shoulders bottom. from which we would likely see a retest of the $1350 range.
Assuming bullish momentum continues we would see a (relative) fast break to $1750 where we would find out if we will double top or look towards a much much larger breakout towards $5k, but this is too far into the future to consider trading for me today.
Best
filbfilb
註釋
Profits taken on this s/t trade. looking like rising wedge could breakdown and retest the break out before the push to 1400+
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