Is Gold set for a nearly 20% move to the upside?
Price has been narrowing recently, bouncing from trend line to trend line and respecting a low side reversal zone. The technical merit for this is perhaps lacking additional details which may not fully encompass the full picture, but in isolation I think there is a legitimate case to allocate at least a small position to the idea.
The low side rejections on the Daily are not as pronounced as you'd like, but we do have 4 days rejecting from 1458. I'm not sure that is an entry trigger, but a break of the top side flag could be an objective in.
Price has been narrowing recently, bouncing from trend line to trend line and respecting a low side reversal zone. The technical merit for this is perhaps lacking additional details which may not fully encompass the full picture, but in isolation I think there is a legitimate case to allocate at least a small position to the idea.
The low side rejections on the Daily are not as pronounced as you'd like, but we do have 4 days rejecting from 1458. I'm not sure that is an entry trigger, but a break of the top side flag could be an objective in.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.