Good weekend everyone,
Gold as i've said on previous ideas is not ready to take off toward 1400 zone yet, and for that we must wait the proper opportunity to buy it.
Weekly timeframe we can see the price failing to create a new HH and now we have a bearish engulfing candle removing all the progress from 3 weeks past, all this added to a hidden bearish divergence on RSI.
Daily timeframe we have a possible (not confirmed yet) H&S formation, price did a good selloff and now rejected 50ema as resistance, bearish sign .
H4 we had a huge sell off movement and now i expect some consolidation period before another big movement.
Personal strategy: wait for the bottom for a big RxR opportunity to long
Optional: Its possible to short aiming ~1275 on lower timeframes after pullback + rejection, its risky.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Gold as i've said on previous ideas is not ready to take off toward 1400 zone yet, and for that we must wait the proper opportunity to buy it.
Weekly timeframe we can see the price failing to create a new HH and now we have a bearish engulfing candle removing all the progress from 3 weeks past, all this added to a hidden bearish divergence on RSI.
Daily timeframe we have a possible (not confirmed yet) H&S formation, price did a good selloff and now rejected 50ema as resistance, bearish sign .
H4 we had a huge sell off movement and now i expect some consolidation period before another big movement.
Personal strategy: wait for the bottom for a big RxR opportunity to long
Optional: Its possible to short aiming ~1275 on lower timeframes after pullback + rejection, its risky.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Nota
No big deal so far, just sideways moving as expected.HS is still not complete just to be clear and no trading opportunity so far
strong resistance above, strong support below =)
Nota
Testing neckline right now, lets see how daily candle will close.Nota
The HS formation is not invalidated yet but only a break under neckline will validate it for sure.
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.