POTENTIAL BULLISH CYPHER PATTERN ON GOLD'S 1H TIMEFRAME!
Updated
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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