GOLD H1 ANALYSIS LONG OPPORTUNITY - PRICE @ TRENDLINEHey traders,
Gold has reached an inflection point, as seen by the blue trend line drawn.
Gold previously was stuck in the green consolidation triangle before breaking hard to the down side.
I am waiting for a confirmation signal in the form of a bullish candlestick, or strong bullish close to go long.
Price is still in the ascending triangle structure.
Daily trade analysis and ideas:
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Goldlongsetup
GOLD Long to $1555Hello Traders,
A breakout to the upside was seen in XAUUSD, and thus a trade was taken with as stop loss of $27 at around $1478 just around the previous consolidation low and a take profit of $50 at around $1550 just around the previous swing high. The price had been consolidating $1495 and $1481 and therefore, this breakout can be identified as a start of an upward momentum with the bulls taking over.
Have a lovely day!
Riverfront Capital