Gold is shining ☀️: Breakout of falling channel, Big Bull Flag
Gold had very strong move yesterday and broke up the falling channel which is very huge bull flag. Right now price approaching supply zone.
There is two posible scanarios:
As you see drawed in chart, 1st scenario is pull back to retest higher edge of the falling channel and fibo level 0.236 (@1914.2) and then continuation in direction of bull trend.
2nd scanario more likely to happen, in my opinion will be a breakout the supply zone and then pull back to retest it.
My target is 0.5 fibo level @2082.1
If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
There is two posible scanarios:
As you see drawed in chart, 1st scenario is pull back to retest higher edge of the falling channel and fibo level 0.236 (@1914.2) and then continuation in direction of bull trend.
2nd scanario more likely to happen, in my opinion will be a breakout the supply zone and then pull back to retest it.
My target is 0.5 fibo level @2082.1
If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
