Last week Gold never gave us a sell setup and instead spiked up on the verge of certain news events. Finally however, it has now completed a more defined and clearer pattern for us to trade, at least. It seems clear now that, in fact, as the commodity reached previous highs but did not break them and consolidate and, instead, it reversed to the downside, it will now most probably go to retest previous lows in the 1300 area.
On the 60min timeframe,
XAUUSD
is making a small flag for a tiny bit more upside which will complete a minor flat pattern. If you decide to take this trade, take profit as it will be extremely short lived. Right after that, in fact, we are expecting a downside movement which to us is a far more interesting opportunity. From this moment on therefore, we will be looking for sell setups, on GOLD.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
On the 60min timeframe,
XAUUSD
is making a small flag for a tiny bit more upside which will complete a minor flat pattern. If you decide to take this trade, take profit as it will be extremely short lived. Right after that, in fact, we are expecting a downside movement which to us is a far more interesting opportunity. From this moment on therefore, we will be looking for sell setups, on GOLD. If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
Bình luận:
To those who followed our sell lead on Gold congratulations ! At this moment, we are still holding our short positions as we believe there is another movement to the downside coming, on gold. However, the commodity's price is bound for a small correction:
Bình luận:
Amazing sell, this one. Congratulations again to everyone who followed our lead on this great setup. Protect your profits now, and watch it around the trend line because both scenarios are still valid (running flat for more upside from the trend line, or downtrend continuation to complete bigger ABC correction):