GOLDETF - Looking for bullish continuation.N wave with E, V, N & NT projection.
The current price just crossed above the Kumo suggesting a bullish trend.
A golden cross just occurred, further supporting bullish sentiment.
The overall structure within the cloud shows potential for continued upward movement.
Recent volume trends indicate increasing interest, particularly on upward days, which suggests strong buying pressure.
Enter a long position around 3.71, ideally after a confirmed break above the NT level (3.74) with strong volume.
If a pullback occurs, consider an entry around 3.60, where the price has previously found support.
Set a stop-loss at 3.50, which is below the recent swing low, to limit potential losses.
Continuously monitor external factors such as gold prices, macroeconomic indicators, and geopolitical events, as they significantly impact the gold market.
Watch the volume closely to confirm breakouts; increasing volume on upward movement will help validate trade decisions.
Be prepared to adjust stop-loss levels as the price moves in favor of the position to secure profits while managing risks effectively.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
