Gold has successfully broken out of its consolidation phase with a strong bullish engulfing candle that engulfed the last 11 days of trading. Now, with this strong upward move, it is expected that the price may retrace slightly to gather some liquidity before continuing its ascent. As for me, I will be waiting for the price to test the trendline slightly below it to look for any possible reversal signals that may indicate a buying opportunity for gold.
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Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
Trade closed: target reached
