What's up Traders!
Gold is not really easy to figure out at the moment. We are sat in the falling wedge pattern (it has a tendency to break out to the upside) + weekly trend line in combination with near term support. Bear in mind there is also a weekly bearish PIN OB so caution required if you are going long.
We are not break out traders so for us patience is required. If you are new to trading , there is one advice to consider. TRAIN YOUR PATIENCE! It is one of the most important part of your arsenal. Money always flows from impatient traders to the patient ones. Therefore sit on your hands for a while- it will not hurt you:)
There are 2 entries marked on the chart green( buy) red(sell). Break out and retest is all that we want to see. If market breaks the falling wedge pattern without retesting it,good! Nothing to worry about. We gonna wait for another entry.
Enjoy the ride!
Follow Prosperous Traders!
Gold is not really easy to figure out at the moment. We are sat in the falling wedge pattern (it has a tendency to break out to the upside) + weekly trend line in combination with near term support. Bear in mind there is also a weekly bearish PIN OB so caution required if you are going long.
We are not break out traders so for us patience is required. If you are new to trading , there is one advice to consider. TRAIN YOUR PATIENCE! It is one of the most important part of your arsenal. Money always flows from impatient traders to the patient ones. Therefore sit on your hands for a while- it will not hurt you:)
There are 2 entries marked on the chart green( buy) red(sell). Break out and retest is all that we want to see. If market breaks the falling wedge pattern without retesting it,good! Nothing to worry about. We gonna wait for another entry.
Enjoy the ride!
Follow Prosperous Traders!