Gold continues upwards, first target at $1535
Gold's recent breakout after the Saudi attack may have sparked a larger move upwards... Retraced to around 61.8 Fib level then bounced out of channel.... backtested channel and continuing upwards again. First target is 1535 with stop at most recent low 1484.50... Move could be dependent on FOMC meeting tomorrow...
Note
1535 is my first target because it is 1.618 times the length of wave 1...Note
Looking good so far, would not be surprised by a sudden flash down... will not get shaken out unless price goes through stop loss at 1484.50Note
Stopped out
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.