Long and strong uptrend for the past year, most corrections during this time have been minor.
This trending price action and long entries can continue until lower highs and lows appear, only then can we say a larger retracement underway.
Gold has exceeded previous all time highs around 1920 and broken through 2000 level but is now back below.
Past few weeks may only be small retracement but not great idea to go long just below potential major resistance of such a big number.
A super aggressive strategy would be to go long regardless.
A moderate strategy would be to see if 1920 holds, price then moves up through 2000 for a few bars and then enter.
Super conservative would be to go long only when new highs are made past 2075.
This trending price action and long entries can continue until lower highs and lows appear, only then can we say a larger retracement underway.
Gold has exceeded previous all time highs around 1920 and broken through 2000 level but is now back below.
Past few weeks may only be small retracement but not great idea to go long just below potential major resistance of such a big number.
A super aggressive strategy would be to go long regardless.
A moderate strategy would be to see if 1920 holds, price then moves up through 2000 for a few bars and then enter.
Super conservative would be to go long only when new highs are made past 2075.