Updated

3rd wave bull for gold

It seems that the retrace is done, gold goes on the bull cycle again:
1. bull flag
2. 0.382 Fib retrace similar as last wave
3. similar up-channel and down-channel intersection area, all of them show strong support.
4. RSI support.

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The second one is 0.5 Fib Retrace.

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Don't know why up-channel is not being shown on the chart. If you use chart share link : tradingview.com/i/5iNdYMxm/, you will see the channel

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A re-test of the 1220 area is possible.

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Gold looks so weak lately. See the price action around 1217~1220. If it cannot hold, it will lead to 1210, 1200

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Let's see if the support lines will be tested multiple times before going up as before:

Note

Breached the support. It will go to next trend line, which is 1210 area and 1206 area.

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Trade closed manually

Gold going down.

mytrade1602

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