Gold Cup and Handle Chart Pattern/ Silver Breakout
Gold had a daily chart break and is now retesting the breakout zone. However since the breakout was quite strong we would want to see follow through relatively soon, not doing nothing for 7 days after the break.
On the 4 hour chart, we see a different picture.
We see long wicks at a 4 hour support/flip zone of around 1450. From here we saw the lower highs losing steam and creating what appeared to be a head and shoulders pattern, however we did not get a strong break of the zone I was watching.
Now the trade looks more interesting with what appears to be a cup and handle break and higher highs.
Would watch the 1490-1500 zone for profits on a trade and see how price reacts. Again, if you follow my work, I am precious metal bullish.
Silver also showing a reversal pattern. Not the best looking cup and handle but the structure is there.
The break above 17.10 zone has occurred now and we have a higher low to work with.
First target is the 17.60 zone.
On the 4 hour chart, we see a different picture.
We see long wicks at a 4 hour support/flip zone of around 1450. From here we saw the lower highs losing steam and creating what appeared to be a head and shoulders pattern, however we did not get a strong break of the zone I was watching.
Now the trade looks more interesting with what appears to be a cup and handle break and higher highs.
Would watch the 1490-1500 zone for profits on a trade and see how price reacts. Again, if you follow my work, I am precious metal bullish.
Silver also showing a reversal pattern. Not the best looking cup and handle but the structure is there.
The break above 17.10 zone has occurred now and we have a higher low to work with.
First target is the 17.60 zone.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.