Gold

Daily chart is showing that bears are exhausting as well. Price took a dip down in mid August after a bearish (50, 200) ABCD pattern completed.

The retracement should stop at either 50, 61.8 or 78.6 fibonacci levels, forming a bigger ABCD pattern, which should take price right out of the triangle.

Two leading indicators are giving a buy signal, while MACD is losing momentum after completing a bottom half-circle, price should move up from here anytime soon.

Place stop losses under the 78.6% level, or under the triangle lower trendline.

You should either take long on a bullish candle, when price cross point B @ $1423, or on the triangle breakout. I would wait for the FOMC meeting to assess and make a proper decision.

You have plenty of scenarios to choose to go long from, measure your own risk and reward and take positions wisely.

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