Hello Traders and Investors, today I will take a look at Amazon.
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Explanation of my video analysis:
Just three months ago Gold broke out of a very long term ascending triangle formation - similar to the triangle formation which we saw back in 2019. So far Gold is just creating the expected continuation higher and you can definitely close out partials at the current $2350 level. If you are not in a trade yet, it would be best to wait for a retest of the breakout level and bullish confirmation.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
Just three months ago Gold broke out of a very long term ascending triangle formation - similar to the triangle formation which we saw back in 2019. So far Gold is just creating the expected continuation higher and you can definitely close out partials at the current $2350 level. If you are not in a trade yet, it would be best to wait for a retest of the breakout level and bullish confirmation.
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Keep your long term vision,
Philip (BasicTrading)
Комментарий:
Keep in mind that nobody ever went broke by taking profits!
Considering that Gold is approaching resistance, a correction is quite likely...
Considering that Gold is approaching resistance, a correction is quite likely...
Simple break and retest so set your alerts and just be patient!