Gold isn't my favourite chart right now but there is some vague structure here, this analysis is based off that structure even if i'm not fully convinced of the outcome.
The thesis is predicated on price coiling at the 1460 Res zone and getting an on Vol break of the Yellow TL. So with that in mind this idea could be dead in the water pretty quickly if that doesn't happen. If we do get a positive break however things have the potential to get real serious. Above 1624 levels are thin on the ground which could provide plenty of room to run.
The thesis is predicated on price coiling at the 1460 Res zone and getting an on Vol break of the Yellow TL. So with that in mind this idea could be dead in the water pretty quickly if that doesn't happen. If we do get a positive break however things have the potential to get real serious. Above 1624 levels are thin on the ground which could provide plenty of room to run.
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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.