bitcoin and gold were flying and now silver also flying price is overbought and it has made rising wedge chart patten
Get ready for some thrilling opportunities as we dive into the market dynamics of HK50! Let's explore the charts, analyze the trends, and uncover potential pathways for profitable trades. 🚀💰 📈 Higher Timeframe Trend: Zooming out to the higher timeframes (H4 or above), we observe a clear trend in HK50. This sets the stage for exciting possibilities and potential...
price is making up trend inside a parallel channel on h1 chart price testing upper and lower trend line as dynamic support and resistance (intraday bullish until channel breakout)
last time fed give hawkish speech but still gold spiked to 2150 now back again below 2050 nfp news tomorrow will decide rate cut speculation in march is right or wrong march rate cut will decide gold will go back to 2150 or 1900
The price is higher in the hourly resistance range, a trend reversal or at least a correction is expected
It's currently correcting and it may not correct in the main uptrend and go sharp but I'm entering here.
Analysis is against the trend and risk ..........................................
Open - 1.30288 TP1 - 1.30202 TP2 - 1.29314 TP3 - 1.28949 SL - 1.30639 Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
For this currency pair, I am going long for 59.1 Pips.