See the chart pattern which is pretty much self explanatory!
What do you think will happen next?
This is just my idea but anything can happen!
I just want to know everyones thoughts
Thanks for.looking
So gold has been good so far!
SIMPLE ANALYSIS
On the D1 the trend is still bearish and we may continue to see that for the next few weeks
I can see gold go upto around 1781 mark and a potential safe sell entry too see it go down amd break out of the support maybe between 1650-1640.
WKLL HAVE A TIGHT SL ON THIS
SELL ENTRY - 1780-1782
SL- 1805
TP1 - 1729
TP2-...
This is my view on gold. Overall my bias is still short. The new monthly candle is open which price will take liquidity from the top side as an overall movement for the price is down. IF I m wrong then price will make a UTAD and looking for a sell on the retest.
Price will reject from 1740 as it is a break of structure as could be a second test and there is...
As you can see with the stats at the bottom of this idea, this as a lower win rate so we must plan for probability and be able to absorb them - but thats trading.
But, we still have a financial edge due to trades playing out like this and the average win to average loss.
Once we know what that looks like in the data we can plan accordingly, remove emotion - not...
This is potential trade on gold I would look for break fo structure (BOS) all the lightblue box then look for short entry. Remember there are big area of imbalance on the downside. I see some upwards move after those are filled. Good luck
Entry details are shown on the chart.
We have a large target on this strategy, which basically means we will hold until a reverse signal when trading Gold on the M30 timeframe. See the data below.
Trade history can be seen below this trade idea too for full transparency.
This isn't one of our main timeframes, but I'll be doing more testing on the H2 chart over...
Wait for gold to go above the bearish 1705 resistance zone, when it begins to pullback then enter the trade, an aggressive entry would be 1708, you could always wait for confirmation once gold goes below the resistance zone and then retests the resistance zone for a bearish move downwards. Set your stoploss to just above the previous high as shown. Once gold is...
Hello and welcome back traders🙂.
Gold is currently trading in a ascending wedge pattern.
A good entry point on a short term short trade would be the 1687.46 resistance line.
This is because it also coincides with the descending wedge pattern mentioned earlier.
Please be advised that this is a riskier set up due to the potential chance that gold...
Too many people this week have been trying to catch the bottom of this move losing money trying to go Long on Gold. Maybe now we bounce off the 61.8% back up. BUT IF we drop below, we will target $1600 around the 76.4% Major Key Level.
Reasons narrated in the chart.
If you like the ideas please give a follow and a thumbs up, if you have any questions or disagree then please leave a comment I'd be happy to hear your opinion!
💡 Trade Idea
📉 Sell Order @ 1836.90
🎯 Target Profit 1807.62
🛑 Stop Loss 1851.15
❌ Do not risk more than 1 % of your account on each trade
🙂 Good Luck !
Description:
The price is ranging inside a wedge pattern where the gold has posted a higher correction toward the top end of the wedge formation. We have a confluence zone between the 61.8% Fibonacci...
