Gold just did an important trend switch on the 2H time frame coming off what appears to be a double bottom at 1680. The switch is better seen on 15 min to 30 min time frames.
Normally the first pulse which this might be is followed by a minor correction before further movement in direction fo the switch. But strange things do happen.
This is a trend following situation, which means you get no targets, stop-losses or predictions. Why? Because nobody knows where how far a trend might go. I provide no other figures because this is not advice. If going long on Gold a safer situation will be in a 15 to 30 min trend.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Normally the first pulse which this might be is followed by a minor correction before further movement in direction fo the switch. But strange things do happen.
This is a trend following situation, which means you get no targets, stop-losses or predictions. Why? Because nobody knows where how far a trend might go. I provide no other figures because this is not advice. If going long on Gold a safer situation will be in a 15 to 30 min trend.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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