Overview:
Building on the previous analysis, Gold remains below the 200MA H1, affirming the short-term downtrend. A notable development occurred on Jan 19, 2024, at 20:30, with an M15 candle closing in an engulfing pattern, confirming our selling strategy.
Execution:
The order was initiated within the selling area based on the engulfing confirmation. Monitor the trade closely for hitting the target and stay alert for potential bullish signals.
Adjustments:
Consider moving the stop-loss to breakeven when bullish signs emerge, safeguarding gains while remaining adaptive to market shifts.
Conclusion:
Stay tuned to the plan, monitoring the trade's progress and watching for any configurations suggesting a potential bullish trend. This concise approach ensures a well-managed and responsive trading strategy.
Building on the previous analysis, Gold remains below the 200MA H1, affirming the short-term downtrend. A notable development occurred on Jan 19, 2024, at 20:30, with an M15 candle closing in an engulfing pattern, confirming our selling strategy.
Execution:
The order was initiated within the selling area based on the engulfing confirmation. Monitor the trade closely for hitting the target and stay alert for potential bullish signals.
Adjustments:
Consider moving the stop-loss to breakeven when bullish signs emerge, safeguarding gains while remaining adaptive to market shifts.
Conclusion:
Stay tuned to the plan, monitoring the trade's progress and watching for any configurations suggesting a potential bullish trend. This concise approach ensures a well-managed and responsive trading strategy.
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.