CFDs on Gold (US$ / OZ)Updated POTENTIAL BULLISH CYPHER PATTERN ON GOLD'S 1H TIMEFRAME!
Hello traders, i hope you had a nice trading week.
We have a potential bullish Cypher pattern on 1h timeframe.
TECHNICAL OBSERVATIONS
1.We have stochastics at overbought area.
2.Currently price action seems weak.
3.Fibonacci retracements coincide with price structure.
4.Pattern completion at 1.250-1.247/Ounce area.
POSSIBLE LONG TRADE
STOP LOSS AT 1.243/OUNCE
ENTRY PRICE WITH PENDING ORDER AT 1.248,50/OUNCE
FIRST TARGET T1 AT 1.258,60/OUNCE
SECOND TARGET T2 AT 1.264,70/OUNCE
THANKS FOR SUPPORT!
HAPPY TRADING!
We have a potential bullish Cypher pattern on 1h timeframe.
TECHNICAL OBSERVATIONS
1.We have stochastics at overbought area.
2.Currently price action seems weak.
3.Fibonacci retracements coincide with price structure.
4.Pattern completion at 1.250-1.247/Ounce area.
POSSIBLE LONG TRADE
STOP LOSS AT 1.243/OUNCE
ENTRY PRICE WITH PENDING ORDER AT 1.248,50/OUNCE
FIRST TARGET T1 AT 1.258,60/OUNCE
SECOND TARGET T2 AT 1.264,70/OUNCE
THANKS FOR SUPPORT!
HAPPY TRADING!
Note
By the way being on the bearish side we can look for shorting reasons at those level with buy stop above 1,276/ounce area..Note
I hope some of you listen for this short trade now soon we will have cypher completion let's see if price action will validate this bullish pattern..Trade closed: target reached
We can see after the lows of 1,251.40 we had the pattern comletion gold reached our first target..Note
Second target reached..Keep following for more profits...
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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.