GOLD: Your next plan for the next year
Gold / 1D
Hello Traders, I would like to share with you the way I would like to play gold for the next few days.
The overall structure is bullish for gold. But, since the price has established an all-time high, it started correcting.
So, the current trend is still bearish. On the weekly chart, gold is trading inside a falling triangle. Based on price action patterns.
This is what we call a squeeze pattern. Most likely will end making new lows.
In a lower time frame, Gold has made a new high towards testing the falling triangle, and now we might see the price testing the same triangle again. Kindly check the 2 possible scenarios that I'll be looking at before going long or short on gold.
Trade safe,
Trader Leo.
Hello Traders, I would like to share with you the way I would like to play gold for the next few days.
The overall structure is bullish for gold. But, since the price has established an all-time high, it started correcting.
So, the current trend is still bearish. On the weekly chart, gold is trading inside a falling triangle. Based on price action patterns.
This is what we call a squeeze pattern. Most likely will end making new lows.
In a lower time frame, Gold has made a new high towards testing the falling triangle, and now we might see the price testing the same triangle again. Kindly check the 2 possible scenarios that I'll be looking at before going long or short on gold.
Trade safe,
Trader Leo.
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.