GOLD 500 Pips rally is underway 3.5% Account growth was expected

5 nov 2020

GOLD
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⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Strong break of upper side trend line
2️⃣ 1950.00 Minor resistance
3️⃣ Broad weakness of USD,USA election results outcome
4️⃣ 1962.00 next upside target- 50% Fibonacci retracement level
5️⃣ price broke the October high level
6️⃣ 1900.00 Acted as strong support
7️⃣ Technical support - Bull
8️⃣ 1850.00 acted as key reversal-bullish
9️⃣Octoberr high-Immediate support
🔟 Weak DXY- Upward pressure-2000.00 level eyed
#️⃣ Overall bullish trend

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📉 Technical bias-H4-Bullish

Price Above 50,100,200 Exponential moving average
Relative strength index - Reached 70- overbought condition short term fall back expected
MACD -Turned green and well above signal line,oscillators pointing upward
Stochastic - Reached 75- overbought condition short term fall back expected
Ichimoku cloud -cloud is turned green-Price is above the cloud
Bollinger band- Price breakout of the band strong bullish momentum

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Key reversal area's
1900.00 Key psychological level
1848.00 September month low
1932.00 October month high
1962.00 50% Fibonacci retracement level
2000.00 Major psychological level
1932.00 Possible entry- Bull

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Bullish entry #Gold

Entry price - 1932.00

Take profit 01 - 1948.00 (160 pips)
Take profit 02 - 1962.00 (300 pips)
Take profit 03 - 2000.00 (580 pips)

🚫 Stop lose 1922.00 (110 pips)

⬆️ 3.5% Growth expected
⤴️ Account growth 0.5 : 3.5
✅ Risk reward ratio 1 : 7

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9 nov 2020

Operación cerrada manualmente