Here we revisit the Gold market. I had discussed in the past trading little flag patterns with the trend. This is a smaller, tighter type of flag setup offering a better entry point.
This is just part of the general education I offer in this blog. If you are inclined to be a player on the long side of this market, a breakout in the direction of the longer term trend which is up, is usually a fairly low risk trade.
I want to also repeat what I have said previously, which is that I do not trade these types of patterns. In the old days I used to trade these almost exclusively. They do provide an overall edge in trading. We are at the time of the year that seasonally has an up bias in this market.
This is a short term pattern, if you are a long term player you should already have been long at 608 at the very worst.