Today we take a look at the gold chart.
- We are looking at a potential reversal formation in the form of a .
- The break of the neckline activates the price target of the formation at $ 1825
- The golden pocket of the last downward movement stands as strong resistance at around $ 1765 in the chart
- I would like to wait for a clear breakout
- I want to use a possible retest of the breakout zone around $ 1750 for a long entry.
- The price target of this movement is between $ 1813 - $ 1825.
- As we are still in an overriding correction, I want to quickly tighten the SL.
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Many greetings & success!
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