Gold Long idea
Gold has been very bullish for quite some time and we’re looking to continue with that trend.
At the current level price action has formed a large descending triangle pattern. At the moment we’re waiting for a break and retest of the pattern with a confirmed higher low to enter on. Look to target toward the prior high and negative fib levels.
If we see a break to the downside below 1925.00 we will re-analyze and look for structure formation at deeper fib levels.
Gold has been very bullish for quite some time and we’re looking to continue with that trend.
At the current level price action has formed a large descending triangle pattern. At the moment we’re waiting for a break and retest of the pattern with a confirmed higher low to enter on. Look to target toward the prior high and negative fib levels.
If we see a break to the downside below 1925.00 we will re-analyze and look for structure formation at deeper fib levels.