Gold is going up very strongly. The price strongly broke the downtrend's resistance line upward and closed above this. We can see a double bottom formation in the blue circle, so we canned open good long positions with so much profit, but there is a main resistance line at 1326,94 so this gave me a reason to close my long position.
Indicators are in the overbought area, and this confirms to close longs.
If the price goes up, and breaks the resistance line, I will open other long positions, but now I'm waiting for a confirmation. If the price won't break the resistance line, we should open short positions for big profits.
Follow me for new ideas:)
Indicators are in the overbought area, and this confirms to close longs.
If the price goes up, and breaks the resistance line, I will open other long positions, but now I'm waiting for a confirmation. If the price won't break the resistance line, we should open short positions for big profits.
Follow me for new ideas:)