Since few days, gold is in a trading range between 1240$ and 1275$. I 'll go long on 1275$ breakout or after an another cycle in this range (1240$) I like this red resistance line which acting like resistance (3 times) and support (1 time). A triangle can be drawn, and gold can reach its hypothenuse (and EMA 34). Theroical Targets are 1620$ for up trend and...
Always looking 1292$ for short. Gold like the 0.707 retracement. if 1250$ break, short to 1236$ support.
Here, a setup i'll follow. Well, only 2 points for this gartley, but the B point @1292$ may be a good price for a short term sell. Then a pullback to 1242$ level and then a last move to complete the pattern @1322$ Yep, only price with 2$ ending. Like the bottom price today, 1252$ ;) Zoom out to see a likely long term channel.
121 bullish / SL 1234$ TP1 1270 / TP2 1306 If failed, short on 1234$ breakout, target 1220$