Gold is trading inside an expanding channel on D1 chart and it has currently bounced from the lower boundary of it.
I'm looking to buy here, but only after we get a confirmation in the form of breakout above 1236.57, then i want to see correction, ideally in two waves down, and only then go long with the breakout of the trend line to be created between the two waves down correction.
Protection should be below last low around 1230.80 or so in both scenarios.
Target 1 - R:R 1:2
Target 2 - Top of the expanding D1 channel.
I'm looking to buy here, but only after we get a confirmation in the form of breakout above 1236.57, then i want to see correction, ideally in two waves down, and only then go long with the breakout of the trend line to be created between the two waves down correction.
Protection should be below last low around 1230.80 or so in both scenarios.
Target 1 - R:R 1:2
Target 2 - Top of the expanding D1 channel.