GOLD: Eliot wave analysis and retest strategy (Update2)
Updated
First, congrats for your both targets on GOLD !!!
GOLD: Eliot wave analysis on triangle pattern & retest strategy:
Here is another strong and clear confirmation for GOLD Long. Technical indicators and technical analysis are more in the upward side after the rejection of the retest on the 3rd local triangle (RED triangle), after retesting the uptrend of the local triangle pattern (It is a reccurence over the whool week as u see in the chart, and that reflects the buyers intention...)
So we may see to scenarios now: retesting the local triangle for another buy entry or the big breakout of the globale triangle!
SHORT-term analysis (1H time-frame) : GOLD seems to be testing the globale trendline of the globale triangle pattern in the area of 17014 and 1717 waiting for volume to go up very horribly (That is always realized in the morning from 6AM GMT to 16PM GMT )
First Target after globale triangle breakout: 1736 , once this résistance is broke the next level is 1747.
Comment: Congrats the Target was reached twice (y)
It is always recommanded to close the trade after my first target and wait for that level to be reached and crossed well of it to re-open another tradeà Enjoy the profits!!
That was 1600 pips alrdy and now + 3000 pips !
Stick for my update for the next entry after breakout (there is always a pending entry after breaking the 1718 resistance and Global trendline!)
GOLD: Eliot wave analysis on triangle pattern & retest strategy:
Here is another strong and clear confirmation for GOLD Long. Technical indicators and technical analysis are more in the upward side after the rejection of the retest on the 3rd local triangle (RED triangle), after retesting the uptrend of the local triangle pattern (It is a reccurence over the whool week as u see in the chart, and that reflects the buyers intention...)
So we may see to scenarios now: retesting the local triangle for another buy entry or the big breakout of the globale triangle!
SHORT-term analysis (1H time-frame) : GOLD seems to be testing the globale trendline of the globale triangle pattern in the area of 17014 and 1717 waiting for volume to go up very horribly (That is always realized in the morning from 6AM GMT to 16PM GMT )
First Target after globale triangle breakout: 1736 , once this résistance is broke the next level is 1747.
Comment: Congrats the Target was reached twice (y)
It is always recommanded to close the trade after my first target and wait for that level to be reached and crossed well of it to re-open another tradeà Enjoy the profits!!
That was 1600 pips alrdy and now + 3000 pips !
Stick for my update for the next entry after breakout (there is always a pending entry after breaking the 1718 resistance and Global trendline!)
Note
Note
***** Very important UPDATE:
Note
Well done !! that's it!
Related publications
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.