After being stopped out last night, price is now at a decision point for gold.. We have reached the descending trendline, now I will either watch for a rejection or a break or resistance & retest for continuation to the upside as price looks to be breaking structure. Patience is the key!
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1325 is a significant level to keep an eye on, if price makes a daily closure above this level I will be leaning more towards an upside breakout
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Looks like a clean breakout, I will be going for it with tight risk management due to the US data tomorrow
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Coming back for a potential retest / validation of broken resistance turning into new support
hi,
please dont forget, we have BAT Pattern to down ....
GeniusTraderWorldwide
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i think its more up than that
thesilverbullet
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I would probably take this trade too , but I am worried about the possible lurking market madness that could arise.
Have equities bottomed in your opinion?
Profound_Ambition
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@thesilverbullet, I don't keep my eye on equities much, but I do find most accuracy with technicals & breakouts. Only thing thats sketchy is the dollar news tomorrow
please dont forget, we have BAT Pattern to down ....