DONT EVEN THINK ABOUT MISSING THIS GOLD SET UP
Hi Traders
Hope your week is off to a flying start.
The chart above we have broken down or opinion on the next leg off Gold. We are expecting a bearish move to the downside breaking through the ascending ABC correction.
We will then look at market conditions again once we hit major resistance where price have rebound from in the past.
The message I hope you take away from this is the importance off confirmations.
No confirmation? Don’t trade.
Price did not reach the level you projected. Don’t trade.
Save yourself the emotional turmoil and only take the positions that EVEN if they do lose you can say I followed my plan lets move onto the next opportunity.
Hope the rest of the week is positive for us all and please do give the post a like and let me in the comments below what you think of this post.
Thanks & as always Trade Safely!
The Fx Chartist
Hope your week is off to a flying start.
The chart above we have broken down or opinion on the next leg off Gold. We are expecting a bearish move to the downside breaking through the ascending ABC correction.
We will then look at market conditions again once we hit major resistance where price have rebound from in the past.
The message I hope you take away from this is the importance off confirmations.
No confirmation? Don’t trade.
Price did not reach the level you projected. Don’t trade.
Save yourself the emotional turmoil and only take the positions that EVEN if they do lose you can say I followed my plan lets move onto the next opportunity.
Hope the rest of the week is positive for us all and please do give the post a like and let me in the comments below what you think of this post.
Thanks & as always Trade Safely!
The Fx Chartist
Trade closed: stop reached:
Gold has seen some bullish momentum today that wasn't expected.
Will update the chart tonight.
Will update the chart tonight.
It appears we will make a deeper retracement on this C leg of the ABC pattern. We still are anticipating the bearish momentum but will expect this at some point next week and will publish when and where we want to see it.