GOLD Touching Trendline Monthly
We are testing th 1715 zone with support, 38% retracement, and a trendline. However, based on the month's momentum we could likely see a break to the lower support zone. Therefore you must truly wait for valid confirmation prior to entering (based on your trading strategy). I will wait for confirmation prior to entering. If we do break with confirmation I will change the sentiment to short-term shorts and long-term long on the 50% or 78% retracement.
RR - 1:6 @ 127% extension of the weekly impulse leg.
RR - 1:6 @ 127% extension of the weekly impulse leg.
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