Trade Idea on Gold by ThinkingAntsOk
With this post we are not saying, "The price will start a bearish movement" What we want to express here is:
IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way.
Main items we can see on the Daily Chart:
a)The price is on an ascending channel
b)Currently against the higher zone of the channel
c)On the Same zone, we can see a Huge Resistance zone, that worked 3 times on the past
d)We don't know yet if the price is going to break the level and start a new bullish movement or if the price will re-enter again on the range
e)IF the price re-enter on the range, we will wait for the breakout of the ascending trendline + corrective Structure
f)IF that happens, we will develop short setups towards the next Support zone.
IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way.
Main items we can see on the Daily Chart:
a)The price is on an ascending channel
b)Currently against the higher zone of the channel
c)On the Same zone, we can see a Huge Resistance zone, that worked 3 times on the past
d)We don't know yet if the price is going to break the level and start a new bullish movement or if the price will re-enter again on the range
e)IF the price re-enter on the range, we will wait for the breakout of the ascending trendline + corrective Structure
f)IF that happens, we will develop short setups towards the next Support zone.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.