Hi there,
With gold, I was looking for a possibility to be involved in the down trend. Finally the chance come as the price retraces to my expected reversal zone. Later, I found out that there are other levels that can also be a great place to go short.
Here is why I think those levels provide great opportunity.
1. Retracement to Structure
-Price retraces to previous swing low
-Have confluence with 0.382 Fib Retracement
-RSI Overbought
2. Potential CTS Trade
-Have structure looking left
-0.618 Fib Retracement
-Another potential confluence that will increase the CTS Pts
3. Potential Cypher Pattern Completion
-Cypher Pattern completion at 0.786 Retracement of the X-A leg.
So, those are the 3 simple ways guys, hope this one gives you valuable insights in planning your trades.
Feel free to show your interest and give comments to share your ideas guys. Really appreciate it.
With gold, I was looking for a possibility to be involved in the down trend. Finally the chance come as the price retraces to my expected reversal zone. Later, I found out that there are other levels that can also be a great place to go short.
Here is why I think those levels provide great opportunity.
1. Retracement to Structure
-Price retraces to previous swing low
-Have confluence with 0.382 Fib Retracement
-RSI Overbought
2. Potential CTS Trade
-Have structure looking left
-0.618 Fib Retracement
-Another potential confluence that will increase the CTS Pts
3. Potential Cypher Pattern Completion
-Cypher Pattern completion at 0.786 Retracement of the X-A leg.
So, those are the 3 simple ways guys, hope this one gives you valuable insights in planning your trades.
Feel free to show your interest and give comments to share your ideas guys. Really appreciate it.