GOLD LONG IDEA
Gold is still very bullish on most higher time-frames, however price action currently retraced to the daily 38.2% fib level where we are seeing a daily double bottom form
To confirm a bullish continuation we want to see a break of structure at 1477.50 followed by a retest of that same level.
Some strong bullish setups pushing price action up and out of this zone would be enough confirmation a long
We’re looking to target our monthly resistance and daily 0% fib level around 1550-1560 area
Gold is still very bullish on most higher time-frames, however price action currently retraced to the daily 38.2% fib level where we are seeing a daily double bottom form
To confirm a bullish continuation we want to see a break of structure at 1477.50 followed by a retest of that same level.
Some strong bullish setups pushing price action up and out of this zone would be enough confirmation a long
We’re looking to target our monthly resistance and daily 0% fib level around 1550-1560 area