The above idea is based on important support and resistance levels on this market. Ideally i'll be waiting for a pullback to an important S/R level due to an exhaustion of the bullish momentum. I will then be looking to open long positions targeting the current all time high. Bare in mind that there is a lot of high impact news which could affect this idea.
Looking at longs on gold as there's potential on the higher timeframes to push it up. Bare in mind that there is high impact news in the coming week which could affect the trade.