Gold - triangle breakout long
Gold has broken from recent triangular consolidation and is retesting current support/resistance zone.
The bias is to the long side , as price respects the 200 MAV.
Entry - near the current support at 1425 ( fib zone of .5-.618 , showing long wicks to downside and price rejection to the downside at 1420)
Stop - break of the recent swing low and beneath major support at 1398
Target is near shy of the .618 extension and before major resistance at 1484.
Risk Reward is 2+.
The bias is to the long side , as price respects the 200 MAV.
Entry - near the current support at 1425 ( fib zone of .5-.618 , showing long wicks to downside and price rejection to the downside at 1420)
Stop - break of the recent swing low and beneath major support at 1398
Target is near shy of the .618 extension and before major resistance at 1484.
Risk Reward is 2+.
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