Gold update - market reached strong support - how to trade
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market price reached after a breakdown from triangle formation the 200 day moving average on 4H which is strong support and last support before 1480 $ area. I expect many buyers coming into market and a retest of triangle formation. Long/buy entry is only valid if market goes back into the triangle formation and close two 4 H candles above the trend line. Should the next 4 H candle not close above triangle trend line we can expect test of long term up trend line at 1480 $ area.
open buy order after seversal closes on 1H within the triangle formation
open sell order after several closes on 1H under the triangle formation
-regular RSI reached heavy over selled area and started reversal
-stochastic RSI baselines crossed bullish and reached support area
-MACD baselines going to cross bullish soon which brings buyers into the market
-Bollinger bands started sideways movement which implements upwards correction movement
open buy order after seversal closes on 1H within the triangle formation
open sell order after several closes on 1H under the triangle formation
-regular RSI reached heavy over selled area and started reversal
-stochastic RSI baselines crossed bullish and reached support area
-MACD baselines going to cross bullish soon which brings buyers into the market
-Bollinger bands started sideways movement which implements upwards correction movement
Note
market going to 1480 $Trade fermée: cible de profit atteinte
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