Good Morning Everyone,
Today we found a great oppurnity in AU for a long term trade, this means, it's for a Day Trade.
If you look for the last 3 candles formed on the chart, in the 1H time-frame, rejection of happening in this LL zone. In this LL zone we had a reversal movement which happened in the early beginning of January. The two movements are not the same because one of them was caused by Institutions and the other was was a pression from Buyers, which indicate different situations of reversal.
In case of reversal, we established 3 targets.
1º Is the previous LL zone, an important area which can also be a reversal point and now it's a Resistance zone for us
2º It's an intermediate zone in the Ranging Zone
3º Is the HH zone but it can only be considered a Target zone once the 1º is broken
Wait for the correct movements, candle stick patterns, chart patterns and, most importantly, DON'T FOMO.
Have a nice weekend and see you next time!
Today we found a great oppurnity in AU for a long term trade, this means, it's for a Day Trade.
If you look for the last 3 candles formed on the chart, in the 1H time-frame, rejection of happening in this LL zone. In this LL zone we had a reversal movement which happened in the early beginning of January. The two movements are not the same because one of them was caused by Institutions and the other was was a pression from Buyers, which indicate different situations of reversal.
In case of reversal, we established 3 targets.
1º Is the previous LL zone, an important area which can also be a reversal point and now it's a Resistance zone for us
2º It's an intermediate zone in the Ranging Zone
3º Is the HH zone but it can only be considered a Target zone once the 1º is broken
Wait for the correct movements, candle stick patterns, chart patterns and, most importantly, DON'T FOMO.
Have a nice weekend and see you next time!
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