GOLD - BUY - 23rd December 2021




GOLD - BUY - 23rd December 2021 (Closed)


Good morning team,

Gold has broken out of a bull flag structure during a bullish trend over the past week, we are expecting a continuation to the upside whilst the DXY is heading lower. The majority of commodities are pushing to the upside this morning playing into the bullish bias here on gold.

GOLD – 4 Hour Chart

The 1830 resistance will be our initial target zone for our long trade due to the previous rejections.

GOLD 1 Hour Chart

Bull flag breakout along side an inverted head and shoulders formation.

Trade Setup: BUY market execution, current price 1801, stop loss 1783 and take profit 1830.

Stop loss: 180 pips

Take profit: 290 pips

Trade Setup
BUY - Market Execution

Entry
1801

Take Profit
1830

Stop Loss
1783