‘Start with a Constructive Approach to Trading the Markets’ Asset: GOLD Trading Information: BUY GOLD at: 1311 (1) STOP LOSS at: 1289 TARGET (take profit) at: 1484 (2) Chart Pros Holding above its 200 period moving average on the daily time frame Broke out of its bullish reversal falling wedge pattern (handle of, Cup 'n' Handle pattern) Dollar showing strong signs of weakness (negative correlation) Commercial Hedgers (Smart Money Hedgers) holding multi-year bullish exposure Broke through multi-month resistance at 1306/07 Small speculators are betting on a decline Seasonally June, July and more so during August & September are particularly positive months for Gold (based on 30 years of past data) Cons Still considered to be in a downtrend from mid-November 2020 Volatile price action throughout the early part of 2019 (Inside falling wedge pattern) Good resistance up ahead at 1365 Reports A good risk vs reward trade set-up here for Gold. Many fundamental and technical factors contributing to further upside in the coming weeks. Bottomcatcher's Opinion: Our buy signal triggered shortly after Gold broke out of its Falling Wedge pattern to the upside also completing the Cup 'n' Handle pattern. A variety of indicators (not shown on chart) are showing reliable signs of curling from there lows to the upside. A bullish convergence is also in play on the Relative Strength Index. My call for this trade is to... Take a Long (buy) position at 1311 (1) with a stop loss placed at 1289. And our target is at 1484, which is also the 50% Fibonacci Retracement level taken from the highs of September 2011 and the lows of December 2015. .