Bouncing within a wedge for the past five times, the 6th time the wedge will be touched might still be a bounce. For gold bulls, best chance to long with maximum risk/reward here.
Aim to long at low 1700s, high 1690s level, with stop just below 1690 (probably 1686) for best r/r.
Watch for this space as we monitor for best entry level!
Good luck trading through this bear rally.
Aim to long at low 1700s, high 1690s level, with stop just below 1690 (probably 1686) for best r/r.
Watch for this space as we monitor for best entry level!
Good luck trading through this bear rally.
Trade active:
Gold broke out of wedge convincingly. Current retracement is a good opportunity to catch the uptrend. Enter here with stops at either 1729 (last low) or 1719 (trailing the wedge support).