GOLD 23.05.2016
D1 chart
Upward movement and correction to 23,6 Fibonacci.
Price over diagonal support.
Price action: pin bar at levels of support.
Technical indicators:
Price over SMA50 and SMA200.
Two false breaks of SMA50.
DeM(14) reverse upward.
SL:1235
Alternative scenario: If price goes under diagonal support and under 1235 this will negate the positive formation.
Jr. Trader Nikolay Georgiev
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