- currently in profit with stop loss exactly on 1246.50 which is where i managed to buy.
-Hit 786 fib retracement and created a rejection needle at 1246.45
-at initial 14 point crossing 50 point price retested the decreasing wedge pattern
- price should break through 100 point (red) average on next intersection between 14 point and 50 point which indicates bullishness in the market.
- inner downtrend of wedge pattern was also broken.
- Overall quite optimistic with Gold with the upcoming news in the next 2 months.
-Hit 786 fib retracement and created a rejection needle at 1246.45
-at initial 14 point crossing 50 point price retested the decreasing wedge pattern
- price should break through 100 point (red) average on next intersection between 14 point and 50 point which indicates bullishness in the market.
- inner downtrend of wedge pattern was also broken.
- Overall quite optimistic with Gold with the upcoming news in the next 2 months.