The algorithm has been sending multiple signals on GOLD.
First of all we have received an alert of trendline break, which as you can see worked nice.
On the other hand, the price broke the blue support but it was a bear trap, meaning this is more bullish than expected.
Finally, under the blue line a doble bottom has emerged which gives us a target price in the top green line.
Buying over the blue line is a great risk/reward opportunity if you look for a fast profit in the green line or you are a long term investor willing to protect yourself from inflation.
This kind of combinations of patterns are really hard to see but extremely powerful.
First of all we have received an alert of trendline break, which as you can see worked nice.
On the other hand, the price broke the blue support but it was a bear trap, meaning this is more bullish than expected.
Finally, under the blue line a doble bottom has emerged which gives us a target price in the top green line.
Buying over the blue line is a great risk/reward opportunity if you look for a fast profit in the green line or you are a long term investor willing to protect yourself from inflation.
This kind of combinations of patterns are really hard to see but extremely powerful.
Comment:
Take profits done
Trade closed: target reached