My Analysis on Gold:
1) Reach a monthly high
2) Retraced on a FIB ratio between 50% and 61.8%
3) Had a breakout from a bullish pennant and also made a retracement
NB: These confirms our bullish sentiment on Gold.
FOR ENTRY:
AN AGGRESSIVE TRADER can enter with a good candle pattern from a lower timeframe (1H, 4H) and volume confirmation.
A CONSERVATIVE TRADER Can wait for a breakout from the resistance zone with a high volume confirmation before entry in a lower timeframe (1H, 4H).
1) Reach a monthly high
2) Retraced on a FIB ratio between 50% and 61.8%
3) Had a breakout from a bullish pennant and also made a retracement
NB: These confirms our bullish sentiment on Gold.
FOR ENTRY:
AN AGGRESSIVE TRADER can enter with a good candle pattern from a lower timeframe (1H, 4H) and volume confirmation.
A CONSERVATIVE TRADER Can wait for a breakout from the resistance zone with a high volume confirmation before entry in a lower timeframe (1H, 4H).