GOLD update idea - continues GROWTH

23 дек. 2020 г.

I am updating my past Gold idea. As you may remember, we said that the price will come to support before starting to rise.

The price really started and is now in the support zone at 1869.85. The chart shows that since August the price has served as a "buffer" for the price. Stopping falls and slowing growth.

However, it should be borne in mind that last week the price received support from the 2019 line, bouncing off it at point 1823.88. The line strength was enough to break through the support zone and rise to the resistance. Therefore, the probability that the price will suddenly collapse and break through the support zone once again during the fall is very small.

So I continue to expect that after the price has touched off the bounced off the support zone, it will start to rise. In this case, the target should be looked for at the resistance line 1904.51.

This is also a pretty good position to open a buy trade. I will never tire of reminding you of the importance of SL. In this situation, we can put it below the support zone.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻