According to cup pattern in 30 minutes time frame the gold price may reach around $ 1789.00.
This is because the range of cup pattern in the picture is around $ 30.
At this point, it's high risk to buy now.
However,You should wait for the short (sell position)at around $ 1789.00.
The reason is;
• The price around $ 1789.00 is 61.8% Fibonacci level (highest $ 1832.00 ~ lowest $ 1721.00).
• The target range of the cup pattern.
• By looking at the dollar index,it fell back from resistance around 93.18 last week.
• But it also could lead to break out condition.
Just after the breakout, the entry position have to be changed immediately as the following price range.
P. S
According to the above information, it is for day trading
This is because the range of cup pattern in the picture is around $ 30.
At this point, it's high risk to buy now.
However,You should wait for the short (sell position)at around $ 1789.00.
The reason is;
• The price around $ 1789.00 is 61.8% Fibonacci level (highest $ 1832.00 ~ lowest $ 1721.00).
• The target range of the cup pattern.
• By looking at the dollar index,it fell back from resistance around 93.18 last week.
• But it also could lead to break out condition.
Just after the breakout, the entry position have to be changed immediately as the following price range.
P. S
According to the above information, it is for day trading
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.