GOLD: LONG - Equidistant channel, price at lower trend-line sup

TECHNICALS:

1.
- Price may be forming an Equidistant Ascending Channel
- Price has bounced off the upper trend-line twice now,
and the lower trend-line once
- However price is finding support at the lower trend-line
once again and may be setting up for a bounce to the upper
again

3.
- 61.8 Fib level of the bullish reversal move from 03/07/2018 - 09/07/2018
coincides with the lower trend-line of the equidistant channel and previous
support level

2.
- RSI is oversold
- At same level (20) to previous initial reversal out of the Bearish Descending channel

FUNDAMENTALS:

- A lot of geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs

Appreciate any thoughts/comments,
Thanks for reading,

James

Kommentera:

- Perfect reversal off the lower trendline
- currently shooting up!

Kommentera:

- 4h candle setting up to close as a perfect rejection cadle
- Massive lower wick
- Will wait for this to close before entering