The GOLD has formed a strong move up and after a 100 pip win I had yesterday on GOLD, I expect further continuation up.
CAMMACD.Sit is showing a potential for 1-2-3 pattern. Point 1 is a momentum move (trend), Point 2 is correctional, Point 3 will be impulse. If the price doesn’t break the point 1 to the downside and makes a break above 2 1596 is the level to watch for a breakout up. Whatever happens both m15 and H1 are showing uptrend which is aligned with H4. If the price drops below the channel – 1570 then I will move to H1 and search for 1-2-3 patterns there. Target is 1609.22 with a potential for 1622.
Many green pips,
Nenad Kerkez aka Tarantula FX