gold path and direction
Hello everyone this is my idea about gold in daily time frame
we could have a reverse cup and handle pattern right now black line is being very strong support
A clear break of this support could take us to 200 EMA as first target
Second target Fibonacci from black line to all time high take us to this zone below 200 EMA around 1720
Note :
we can build buying position around 200 EMA and the 1.618 Fib however if that area shows volume and good support
we could see Reversal there to make a new high
there is a hint in the RSI price is stuck inside a triangle we wait for a break out from RSI for better direction
There could be a reverse head and should building if black line doesn't break .. we could build a right shoulder
and resume our uptrend
for any question feel free to ask and good luck :)
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