Gold - Bullish Reversal
Updated
Good morning ladies & gents .
We are officially in another bullish cycle for Gold, so the favourable direction to trade it in is LONG.
Price created an extremely bullish structure offering us a risk to reward long opportunity.
This bullish structure is created through a break of bearish market structure on the D1, H4, H1 timeframes.
I'll be scaling out of the position as price approaches TP, but I anticipate that price will climb back up to the monthly highs created in 2020 over the course of the next few weeks/months.
Targets: 1820 --> 1838.70 --> 1875 --> 1947 --> 2060
I'll be providing regular updates on Gold . Stay tuned.
Disclaimer: This is purely for educational purposes and not offered as trading advice. Trade at your own risk and remember to always manage your risk appropriately. I'd recommend anything between 0.5-3% maximum.
We are officially in another bullish cycle for Gold, so the favourable direction to trade it in is LONG.
Price created an extremely bullish structure offering us a risk to reward long opportunity.
This bullish structure is created through a break of bearish market structure on the D1, H4, H1 timeframes.
I'll be scaling out of the position as price approaches TP, but I anticipate that price will climb back up to the monthly highs created in 2020 over the course of the next few weeks/months.
Targets: 1820 --> 1838.70 --> 1875 --> 1947 --> 2060
I'll be providing regular updates on Gold . Stay tuned.
Disclaimer: This is purely for educational purposes and not offered as trading advice. Trade at your own risk and remember to always manage your risk appropriately. I'd recommend anything between 0.5-3% maximum.
Trade active
Note
Price made a nice shift during New York. We may see a retest of 1773.75 prior to the next move up. Let's see how price unfolds going into next week.Note
Price moving very nicely as anticipated. From here we'll look for more opportunities to build in long positions.
Disclaimer
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