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Gold In The Long Run is Bull!

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Nothing too complicated, just see the Bollinger Bands, everytime it touches Moving Average line is bouncing.. I wish to find this earlier.

Lesson of the year; Never get too bored to observe charts in different Time Frame and Perspective. It's like finding treasure on a treasure map!

Target is 1250 up to 1272 up to 1297 in the long run, Usually I'm being picky and conservative about entry but this time I see high certainty of Bull on Gold.

Have a Good Trade!!

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Don't Put any Position Yet!

Wait for the candle to start making bounce above Moving Average Line 1235 then you can buy as bull is confirm to continue its rally, otherwise you are catching a falling knife. Patience is Golden!

There is wedge on 1Hr chart.. and fell off like waterfall. Wait for retracement on 4Hr chart for confirmation and Entry.

Safe Trade.

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Bounce failed and Wedge is Forming

The bounce on 1235 has failed this time, but don't worry this has happened in late January as can be seen in the first hand sign I put on the chart. What may have happened in recent fall TECHNICALLY was the wedge has made waterfall as you can see on pic I posted above; FUNDAMENTALLY President Trump just announced plan for Tax Reform in the next 2-3 weeks which a lot of people assumed the most phenomenal since President Ronald Reagan (1981 -1989).

Short Term support is 1220 with Important Support around 1204 - 1208.
NOTICE Gold should bounces at 1204 - 1208 and must not fall below it (breakout), then we're continuing the long run of Bull; otherwise it's a clear end of it. See the 2nd hand sign as potential Buy.

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HISTORY WILL REPEAT ITSELF

As you can see the correlation between Uptrend, Moving Average, and Stochastic are moving harmoniously. This is a Golden chance to buy right at the 2nd hand sign estimated at 1210, but make sure to open position when price bounce from there or make sure to put stop loss in case the long run of Bull fails again (if drop bellows 1200).

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The End of Long bull

Wedge pattern is being executed by the market.. once this single candle is out of the wedge it will likely fall to 1220 as Elliot Wave is forming its wave A.
If you have long term buy from within January and February, It is better to close it.