Gold Long 4 hour (Support and resistance)

I see a lot of people again are getting bearish on gold but i dont see a reason to be bearish yet. Gold yesterday tested the rsising channel support twice and failed to break below it.
The consolidation is breaking, testing and holding support which is not bearish at all. If it breaks the rising channel on a 4hour candle, i will look for a short. The consolidation will end soon and im on the side of the bulls still, remember this is an uptrend.

Also check out my goldidea based on signal which is simple but useful :)

Comentário:

The support and resistance will probably be respected, so waiting for a backtest of support is the safe way to buy gold now