Gold Showing a HUGE cup and handle formation on the daily.
Hello Everyone,
Taking a look at Gold on the daily chart it has formed a huge cup and handle which is a possible uptrend signal. Buy/Sell indicator is showing a current entry point of roughly $1280. The cup and handle has potential growth to the $1600 area. Profit pulling will be when the blue buy/sell indicator crosses above the red dotted line. Stop loss for a long position is roughly $1235, and $1322 for those who are short trading.
Keep in mind, the last time Gold came anywhere near the $1600 level was April 2013!
Daily sentiment is showing to be moving towards a bullish trend while the 4 hr chart is still on the bearish side.
Please hit like if you found this information useful or helpful!
**This is meant FOR EDUCATIONAL PURPOSES ONLY and is not meant as any trading or buy/sell device. Always do your own research.**
Good Luck and Happy Trading!! :-)
-AWC-
Taking a look at Gold on the daily chart it has formed a huge cup and handle which is a possible uptrend signal. Buy/Sell indicator is showing a current entry point of roughly $1280. The cup and handle has potential growth to the $1600 area. Profit pulling will be when the blue buy/sell indicator crosses above the red dotted line. Stop loss for a long position is roughly $1235, and $1322 for those who are short trading.
Keep in mind, the last time Gold came anywhere near the $1600 level was April 2013!
Daily sentiment is showing to be moving towards a bullish trend while the 4 hr chart is still on the bearish side.
Please hit like if you found this information useful or helpful!
**This is meant FOR EDUCATIONAL PURPOSES ONLY and is not meant as any trading or buy/sell device. Always do your own research.**
Good Luck and Happy Trading!! :-)
-AWC-
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