Having broke out with impulse from the contracting triangle GOLD has impulsed out of the greyed trading ranges to pierce through my first fib target.
Bollinger bands are set to 3 standard deviations as as you can see price is above upper band. And that can somewhat be expected because price is realising that effect of the cause - the contracting triangle. However I think there is a good chance that there pull back coming here, especially if the weekly closes below the fib @ $1958.
This 50WMA provided great support for this breakout and has been significant in many S/R reversals. If price did pull back there it could be a golden opportunity (pun intended 😄) I think.
Not advice.
Bollinger bands are set to 3 standard deviations as as you can see price is above upper band. And that can somewhat be expected because price is realising that effect of the cause - the contracting triangle. However I think there is a good chance that there pull back coming here, especially if the weekly closes below the fib @ $1958.
This 50WMA provided great support for this breakout and has been significant in many S/R reversals. If price did pull back there it could be a golden opportunity (pun intended 😄) I think.
Not advice.
评论:
Wow thats a very long wicked star through the fib and back down down under those significant resistances. Very good chance GOLD gets back down to the 50WMA and rising trendline.
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Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
