POSSIBLE SHORT TERM REVERSAL SETUP
Another week. Another dollar to chase.
Hi folks. I'm looking at an interesting setup here on Gold. I'm seeing a inverted hammer candlestick here that wrapped up last week. We're at a decent support level here to hold prices up going into next week starting August 13th.
I'll be looking for a long setup at the open with a target around 1945 (last week's high) before resuming lower according to COT reports and of course overall market structure.
A decent swing into 1945 with stops just below the 61.80% (1910.80) taken on the 1800 impulse. A decent RRR to start off the week.
Let's see how it goes.
Good luck trading and have a great week. 4H chart in comments section.
Hi folks. I'm looking at an interesting setup here on Gold. I'm seeing a inverted hammer candlestick here that wrapped up last week. We're at a decent support level here to hold prices up going into next week starting August 13th.
I'll be looking for a long setup at the open with a target around 1945 (last week's high) before resuming lower according to COT reports and of course overall market structure.
A decent swing into 1945 with stops just below the 61.80% (1910.80) taken on the 1800 impulse. A decent RRR to start off the week.
Let's see how it goes.
Good luck trading and have a great week. 4H chart in comments section.
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