Gold Long set-up

As illustrated below it is apparent that we were correct to take profits when we did in Gold (post 27 March) as momentum did indeed slow and we have since seen a persistent pull-back.

On the 4hr chart below: a decent long set-up has presented itself again with another clear false break of previous support (forming the bottom of the bearish mother candle) this also coincides with the 61.8 Fib level which, if respected, can form the beginning of a powerful 3rd wave of momentum.

I am therefore looking to get long on a close above this level with a tight stop below the low of this latest Hammer candle.