Long term buy on Gold after pullback

6 Okt 2022

-Possible inverted head and shoulders forming on the Daily TF for Gold.
-Gold has reversed after this weeks bullish impulsive move, my bias is now bullish.
-Still expecting price to pull back to around 1690 before continuing to the upside.
-Overall target around 1800 (will still be taking smaller positions/scalp/intraday moves)
-Will see how price reacts once it hits my POI (Point of Interest) in the coming days/weeks

9 Okt 2022

Nota

Gold has reached my POI. So far it looks like we have a double bottom forming on my 1693 support level to reverse back to the upside. My bias this week continues to be Bullish unless we break thru support and or/ market shows me otherwise.

11 Okt 2022

Nota

-So price broke thru my support of 1690 and headed to 1660. I still see head and shoulders pattern, but price made a lower shoulder than I originally anticipated.

- My bias is still bullish as price has just made another bullish move off 1660, creating a higher low on daily TF. Waiting for a retest of 1674 area to enter. We may not get the pull back, (because it seems to have good bullish momentum) If I miss this entry, I will wait for break and retest of 1690 level for Semi longterm hold to 1800 area.

-If price closes below 1650 area, this idea is invalid.