POTENTIAL BULLISH CYPHER PATTERN ON GOLD'S 1H TIMEFRAME!

Hello traders, i hope you had a nice trading week.
We have a potential bullish Cypher pattern on 1h timeframe.

TECHNICAL OBSERVATIONS
1.We have stochastics at overbought area.
2.Currently price action seems weak.
3.Fibonacci retracements coincide with price structure.
4.Pattern completion at 1.250-1.247$/Ounce area.

POSSIBLE LONG TRADE
STOP LOSS AT 1.243$/OUNCE
ENTRY PRICE WITH PENDING ORDER AT 1.248,50$/OUNCE
FIRST TARGET T1 AT 1.258,60$/OUNCE
SECOND TARGET T2 AT 1.264,70$/OUNCE
THANKS FOR SUPPORT!
HAPPY TRADING!

Bình luận:

By the way being on the bearish side we can look for shorting reasons at those level with buy stop above 1,276$/ounce area..

Bình luận:

I hope some of you listen for this short trade now soon we will have cypher completion let's see if price action will validate this bullish pattern..

Đóng lệnh: đạt mục tiêu:

We can see after the lows of 1,251.40 we had the pattern comletion gold reached our first target..

Bình luận:

Second target reached..
Keep following for more profits...