Gold stop loss hunted many buyers at 1680, then followed by bullish movement last week to indicate that the bear is taking a break. the retracement from 1730 looks weak, which to me is a good sign to plan a buy trade.
the chart is telling:
1. strong bullish movement since last Wednesday broke bearish structure
2. 1680 is the important price level which market has given many reactions for past 2 years
3. there was stop loss hunt last week
4. 1660 - 1680 is the 0.618 of latest bullish wave
5. the retracement looks weak
I'll try to long at 1671.575, target will be around 1760.
the chart is telling:
1. strong bullish movement since last Wednesday broke bearish structure
2. 1680 is the important price level which market has given many reactions for past 2 years
3. there was stop loss hunt last week
4. 1660 - 1680 is the 0.618 of latest bullish wave
5. the retracement looks weak
I'll try to long at 1671.575, target will be around 1760.
交易結束：達到停損點
Chance of expansion is getting bigger
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