GOLD: LONG - Update - Waiting for retest of Pysc level/trendline

**This is an update to my original idea published on July 6th

TECHNICALS:

1.
- Possible bull flag pattern forming on hourly charts
- Continuation pattern
- Previous bullish breakout of descending channel
gives bullish bias to the pattern

2.
- 1260 and 1250 Psychological levels acting as a
resistance/support zone the possible Bull Flag pattern
is forming within

3.
- Price now broken bullish out of Bull Flag pattern
- Waiting for a retest of either trend-line confluence
or 1260 Psychological level

FUNDAMENTALS:

- Geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs

Appreciate any thoughts, comments.

Thanks,

James

评论:

- Gold is now at the intersection of 2 trendlines
as well as the 1260 pyschological level
- Perfect place to go long in my eyes

评论:

Nice bullish rejection candle with long lower wick forming exactly on the trendline intersect