Hi Traders! We have an amazing Gold buy opportunity. Gold appears to be respecting the upper trend line and it currently is set to be moving inside this expanding channel.
Gold Daily Chart:
As long as the last low is holding we can look for buy opportunities.
Here is my plan:
Gold H4 Chart:
Look for a break above 1236.36 and then wait for a small correction. Once hidden divergence forms and completes itself on the H1 chart you can either go long aggressively or wait for the most recent down trend line’s breakout.
Protection should be below last low around 1213.83 or so in both scenarios.
Target 1 – R:R 1:2
Target 2 – Top of the expanding D1 channel.
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