A trade I've taken on Gold

29 mag 2015

Although looking a bit choppy, the bigger picture on Gold still shows an uptrend with higher highs and higher lows. Price has touched the floor at ~1180 and rejected the trend line for a third time giving a bullish engulfing and doji bar yesterday, together with rejecting the 0.786 Fibonacci level and closing above it. Stochastic and RSI are in convergence and are just about hooking up to rise after being in oversold territory.