I usually try sticking to crypto but gold i think gold might be setting up for something big soon.
When the crypto market took a hit so did gold, Maybe a move higher could trigger a move in BTC?
Structurally gold is in a long term bullish trend, it bottomed in Aug 2018 and has been makings higher highs since.
This correction started in Aug of 2020, from the look of things the bottom might come in Aug of this year.
I’m looking at 3 levels I would consider longing gold.
The first is the current level it’s trading at now, a break above 1794.50 would further reinforce my bias and I would start looking at buying dips.
The second level is 1728.166 the third would be the previous low. I would look for the same triggers I look for in any trade at, above or below those price points.
Ive already seen a potential long set up but I've only recently started looking at gold so I need price to develop more. The more I watch price develop, the better I can read it’s behavioural patterns.
When the crypto market took a hit so did gold, Maybe a move higher could trigger a move in BTC?
Structurally gold is in a long term bullish trend, it bottomed in Aug 2018 and has been makings higher highs since.
This correction started in Aug of 2020, from the look of things the bottom might come in Aug of this year.
I’m looking at 3 levels I would consider longing gold.
The first is the current level it’s trading at now, a break above 1794.50 would further reinforce my bias and I would start looking at buying dips.
The second level is 1728.166 the third would be the previous low. I would look for the same triggers I look for in any trade at, above or below those price points.
Ive already seen a potential long set up but I've only recently started looking at gold so I need price to develop more. The more I watch price develop, the better I can read it’s behavioural patterns.
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