GOLD - not an expert!
Updated
Nice setup with 2 possible trades(for you to take at your own risk of losing all your money)
long with some form of trailing stop after a monthly close above the current descending channel marked by the two closest set of white parallel lines, short or maybe just close your longs after a weekly close below ascending dashed white line.
long with some form of trailing stop after a monthly close above the current descending channel marked by the two closest set of white parallel lines, short or maybe just close your longs after a weekly close below ascending dashed white line.
Note
still waiting for entry
Note
wait for a retest on the lower time frames of the white line it is about to close above on the original idea chart, or basically wait for it to retest the 1850 area and continue to move up as a confirmation on the break of what was resistance. the retest will help establish it as support, even if for a short term move up. THIS IS NOT TRADE ADVICE BUT INSTEAD MEANT FOR EDUCATIONAL ANALYSIS ONLY.Note
Well this could easily be the pullback I originally thought would settle near 1850. Things are too uncertain to take any trade from this hypothetical analysis.Order cancelled
Trade wasn’t triggered, now stale.
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