The uptrend has respected a previous resistance level as support. Entered on the close of the 1 hour bull candle with the stop below that candle. Targeting the next resistance level.
Gold hit a support level around 1547.8 and turned bullish on the one hour. I would have normally entered on the close of this candle however waited for second confirmation on the close of the next 1 hour. Expecting to see a retest at 1562.
There seems to be strong support at the 1.293 region and we are in seriously oversold conditions. There has been a retest of the 1.293 support with some bullish divergence on the RSI. Looking to target the 1.3 area where the next strong resistance is. The long wick on the candle is showing there is a some bull action which further supports my long.
