Possible Head and shoulder Bottom in forming, it is 5 years formation.
Notice the head and shoulders is not valid until clear break for neckline.
This is not short term trade for 1 day 1 week/ 1 month.
This is a long term trade, expect to hold until one of three: 1- hit stop loss 2- fail to break neckline and reverse 3- hit the target.
when the market price go the half way near neckline, move stop loss to the Break-even
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going in the right direction
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The trade is still active and heading in the right direction, we have expectation for the price to correct and test previous highs before heading to the ultimate target. of course this is up to the price to do. we are all watching now
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Our gold position is sky rocketing to the right direction and almost near the neckline, lets watch the market movement right here
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keep going
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The price is moving in line with our plan, it is now we wait for the up break for the neckline and advance to the target
If you are right then Trump gonna be mad bro, that could mean EURUSD gonna be in the 1.50 again.
AgentHK
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@PatricioPebe, This is long term technical analysis chart bro, this mean from technical analyst perspective that the fundamental factors will be impacting the market in the overall technical forecast direction even if news went against it, the long term is up from this chart analysis perspective.
from real time economic behavior, Donald trump is mad on increasing the interest rate as stronger USD hurt the economy, which mean he want it to be weaker, this result gold to go up.
anyway I am mostly swing trader, so I just consider news to avoid conflict not to trade it. but for long term, news doesn't matter..