Fear to Prevail? - Ichimoku Gold Long Trade

26 May 2019

Gold has been finding some support and forming lower highs. As we progress into this upcoming next few weeks I am looking a bullish kumo breakout combined with a bullish kumo twist for a chance to get long. I've drawn out some target I'll aim for along the way should it progress the way I'm looking. We may get another push down to test tenken sen before the breakout so we'll need to watch that interaction closely. We also have a holiday on monday with memorial day and the PM of Britain has stepped down so we may see a jump right out of the gate ahead of thin liquidity and the uncertainty in the Brexit situation. If we fail to hold support or get the kumo breakout, this setup may become invalidated.