Short term Short Scalp (Bearish Pennant)-Long term finding buys
Hello all,
We are seeing a pretty good short term set up for Gold on the H4 with a wick rejection at the significant resistant zone.
Looks like a bearish pennant forming.
possible trades with stops above the previous H4 wick. and TP 1 at previous support and TP 2 at the daily 61.8%
Note~~~
Do note that on the daily I still believe are in a uptrend. As a matter of fact beautifully bouncing off of the 61.8 retracement on the Fibonacci.
So I am long term Gold is bullish for me and can find some trades to scalp while finding a solid buy entry to ride back up to ATH.
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Full disclosure: My ideas/opinions are for education and entertainment purposes only. NOT advice or predictions for investment choices. I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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We are seeing a pretty good short term set up for Gold on the H4 with a wick rejection at the significant resistant zone.
Looks like a bearish pennant forming.
possible trades with stops above the previous H4 wick. and TP 1 at previous support and TP 2 at the daily 61.8%
Note~~~
Do note that on the daily I still believe are in a uptrend. As a matter of fact beautifully bouncing off of the 61.8 retracement on the Fibonacci.
So I am long term Gold is bullish for me and can find some trades to scalp while finding a solid buy entry to ride back up to ATH.
---------------------------
Full disclosure: My ideas/opinions are for education and entertainment purposes only. NOT advice or predictions for investment choices. I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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Fei