It did not take long for Gold to confirm my expected breakout Please see my previous post below, from May 15
UPTREND CONFIRMED Gold still looking positive on all time frames Symmetrical high triangle breakout confirmed Healthy uptrend confirmed, reinforces bullish stance Takes place in increasing volume, another positive sign Gearing up for Golden Cross (50/100) on the monthly chart Occurs after a solid, range-bound consolidation (since early April) This makes it a very credible breakout, with high probability of continuation
WHAT NEXT? Next targets 1,800 and then 1,850 From there it could be a straight line to the 1,920.94 all-time-high Watching/targeting potential completion of long-term rounding bottom (see LT chart below)
SUGGESTED ACTION & RISK/REWARD Any further weakness in USD should confirm the Gold up-move Any further pickup/strength in inflation should confirm the Gold up-move The commodity could take a breather from here to 1,700 and still be in bullish mode I would increase position size here and set my stop loss at 1680 R/R > 2.0
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.