Gold very recently dipped in to a pool of liquidity (last significant low before a large move up) that led to the parabolic rally that printed new highs.
As soon as the violation happened we saw rally that violated the bearish market structure on the daily timeframe giving very bullish signals.
This correction might not be over but there is an opportunity to buy gold and ride it to 2000.00 and potentially higher.
I don’t know what the market is going to do long term but for now PA is pointing me in that direction.
I’m waiting for a dip in to the zone I highlighted below. I would have a limit order be I haven’t been following gold long enough to be sure of its levels/zones just yet.
I will have to watch this carefully and monitor price when it reaches my levels.
Let’s see how this one plays out.
As soon as the violation happened we saw rally that violated the bearish market structure on the daily timeframe giving very bullish signals.
This correction might not be over but there is an opportunity to buy gold and ride it to 2000.00 and potentially higher.
I don’t know what the market is going to do long term but for now PA is pointing me in that direction.
I’m waiting for a dip in to the zone I highlighted below. I would have a limit order be I haven’t been following gold long enough to be sure of its levels/zones just yet.
I will have to watch this carefully and monitor price when it reaches my levels.
Let’s see how this one plays out.