If you use 1440 as the top and 1280 as the bottom, that's healthy 40% correction and we are left with a clear bull flag formation. 1380 was a major long term resistance, now its acting as strong support. Its very unlikely to go below 1380. If you look at the fundamentals, it also looking really good for gold: Trade War, US/Iran tensions, Fed rate cuts (suggesting imminent recession) etc.
Note
Opened a long position, skin in the game.Note
position closed, gonna wait for a strong confirmation before opening another long position.Note
not gonna lie, completely forgot to open the trade again. At-least I can boast getting the prediction right (so far) while crying inside for lost potential profits :'(.
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Disclaimer
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.