Gold - correction movement finished - buy on 1H
Updated
market price is in down trend/correction movement since couple of days and has build a triangle pattern in short term.
After a breakout from this triangle the market closed above the pattern which is bullish indicator. We expect up movement to at least take profit 1.
Take profit 2 is only active after breakout from pointed down trend line.
Indicator Analyse
- market price reached down side of bollinger bands and bollinger bands stopped down movement which is bullish indicator
-RSI baseline started up movement again which is bullish indicator, need to break the down trend line for further market price up movement.
After a breakout from this triangle the market closed above the pattern which is bullish indicator. We expect up movement to at least take profit 1.
Take profit 2 is only active after breakout from pointed down trend line.
Indicator Analyse
- market price reached down side of bollinger bands and bollinger bands stopped down movement which is bullish indicator
-RSI baseline started up movement again which is bullish indicator, need to break the down trend line for further market price up movement.
Trade active
Note
tp 1 reachedNote
TP2 will be reached within next 20 hoursTrade 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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