Gold has been trading upwards, exactly what I expected yesterday. The price is heading towards our main target at 1.517. If you got any long position from yesterday, it is good time to secure on the breakout. You can also add long on the any dip on 5/15 minute time-frame.
Orange upper rectangle – Main resistance and our upward target
Upward slopping purple line – Expected path
MACD is showing new momentum high on the Gold, which his good sign that we got fresh new money upside. You should focus on managing your long position and eventually exit around 1.517.
Intraday preferences: I would prefer buying the dip strategy on the intraday frames like 15/30 minute time-frame till potential test of 1.517.
