> Weekly: still trending Down
> Daily: price Bullish from support and EMA34
> H4: The price continues to create a bullish DOW, and surpasses the trendline H4
>> Trading plan: enter M15 or H1 time frame, look for reversal pattern at resistance area & fibo 0.5- 0.618 » @1756 @1764
!!! Absolute Stop Loss at: 1768
This is not investment advice
Please comment if you have a different opinion
Note
Update GOLD 26/11 H4: Gold creating a value zone at Fibo 0.5
H1: Divergence formed
M15: We need to see the price continues to create a bullish DOW, enter entry when you see HL & LL.
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!!! Absolute Stop Loss at: 1768
TP: 1744 & 1735
Note
DOW theory is the foundation of technical analysis.Note
Gold price trading above short term support [1752 1753]If the price moves below this zone, we can enter more positions when the price retest RS and create a continuous Dow.
TP: 1744 & 1735
SL: 1757
NOTE: Only trade when the price closes below this zone [1752 1753]
Trade closed: target reached
We see the price bounce back twice at 1744.8 >> Done target 01. Currently, the price has not clearly shown the short-term trend, the price has not returned to the beneficial value areas when trading. Be patient, I will update the new plan.
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.
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.