GOLD Technical Analysis
- Weekly is up
- H4 retracement and long entry on a cross
- 288 pips is the ATR
- 2030 is the first TP
MEGATREND MAs: Waiting for Cross
H4 Chart GOLD
- Entry zone
- Cross
- Megatrend target
Gold demonstrates a positive outlook. To confirm another upward entry, we must wait for the moving averages to intersect. The initial entry took place in 1997, while the subsequent one will occur after moving averages provide confirmation. Bullish investors are purchasing gold during price dips, and it appears poised to challenge the 2030 level, followed by 2040. The primary resistance is situated at 2022. Upon the occurrence of a moving average cross, I will add an additional long position. It is advisable to maintain stop-loss orders at 1989.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system Join my Telegram group to receive trading signals
Cheers and safe trading,
Nenad
Cheers and safe trading,
Nenad
