GOLD Higher Time Frame Bullish Outlook

14 Feb 2021

Hello everyone:

Lately Silver and Gold have been on lots of people's watchlist, and I want to share my view on its current price action.

Personally I don't think Gold is ready for the up or down move since its still correcting in this higher time frame structure.

We know as long as price is still in its corrective phrase, the short term move up or down will be short lived.

I do hold the higher time frame bullish bias, as we have seen in the past. Price is still in this bullish trend, and we continue to see impulse phrase, follow by correction phrase, then resume the impulse phrase.

This latest price action is just a larger, consolidation for the price to finished correcting before the next up move.

I will wait either for the price to move down once more, formed some LTF reversal correction, and bullish price action kicks in.

Or

We see strong bullish breakout from this HTF flag structure, and look for LTF continuation correction to get in the buy.

Thank you