GOLDEURO-nice long opportunity

Everybody is looking at USGOLD now, here i found a clear long term opportunity to buy gold.

This setup is also supported buy Elliott Waves but i think the technical analysis is enough.

Looking at W1 chart we have:

- Price bouncing from trendline support
- 0.61 fib retracement
- bullish hidden divergence
- AB=CD pattern (weekly)

Here on D1 chart:

- bullish divergence
- another AB=CD pattern
- strong structure
- typical false breakout (this setup offers a R/R at least 1 to 2)
- engulfing bullish candle
- 1.61 fib projection

Best regards.

Yorum:

first target reached