Gold - trade the up correction at support
Updated
-Bullish trend still intact on 4 hour chart - trend is broken after price breaks 1277 $ down
-Price is within ABC correction after finishin Elltiot wave 5
-All indicators in smaller time frames turning bullish after last weeks price decreases, RSI´s are heavy oversold and MACD baselines looking for bullish crossing
-Take profit at 38.2 and 61.8 fibonacci retracement
-Open long after clear support confirmation and reversal candle
-Price is within ABC correction after finishin Elltiot wave 5
-All indicators in smaller time frames turning bullish after last weeks price decreases, RSI´s are heavy oversold and MACD baselines looking for bullish crossing
-Take profit at 38.2 and 61.8 fibonacci retracement
-Open long after clear support confirmation and reversal candle
Trade active
Trade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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