It feels good to be back!
Updated
It’s been a while now since our last engagement…
Well, where should I start…?
Many things happened in the last year++ that kept us away from this fantastic trading community and the good people we engaged with throughout our posts.
Now, all those things are behind us and we are more than ever committed to continue to provide you with like we used to, the best version of ourselves to help you to get the best out of each and every single one of you through our analysis and educational content.
We're happy to be back and hope you are all doing great!
Speaking of, let's get back to business and catch up a bit with GOLD.
On the daily TF the price started to pullback in a sharp way from the beginning of February.
Going lower in the 4H timeframe we can see that the price started to lose some bearish momentum and slowed down, eventually breaking the TL highlighted on the chart and creating a consolidation.
At the moment the price is starting to pullback from an important order block located around the $1860 level.
We have two scenarios in our mind;
1. The price continues to descend towards the 62% FIB Level, having a chance to break the bigger low again, but that remains to be seen. If we get a small correction here the chances to go down to our level increase even more.
2. We can see a slow movement towards the upside that will eventually break the local top again.
Please don't jump in, wait for your setups, no matter what, and don't risk more than 1% of your capital.
It feels good to be back!
I would love to end this on a high note and inspire you guys with a quote from Henry Ford: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it."
Well, where should I start…?
Many things happened in the last year++ that kept us away from this fantastic trading community and the good people we engaged with throughout our posts.
Now, all those things are behind us and we are more than ever committed to continue to provide you with like we used to, the best version of ourselves to help you to get the best out of each and every single one of you through our analysis and educational content.
We're happy to be back and hope you are all doing great!
Speaking of, let's get back to business and catch up a bit with GOLD.
On the daily TF the price started to pullback in a sharp way from the beginning of February.
Going lower in the 4H timeframe we can see that the price started to lose some bearish momentum and slowed down, eventually breaking the TL highlighted on the chart and creating a consolidation.
At the moment the price is starting to pullback from an important order block located around the $1860 level.
We have two scenarios in our mind;
1. The price continues to descend towards the 62% FIB Level, having a chance to break the bigger low again, but that remains to be seen. If we get a small correction here the chances to go down to our level increase even more.
2. We can see a slow movement towards the upside that will eventually break the local top again.
Please don't jump in, wait for your setups, no matter what, and don't risk more than 1% of your capital.
It feels good to be back!
I would love to end this on a high note and inspire you guys with a quote from Henry Ford: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it."
Note
It seems like Scenario no 1 played out in the end. For now, if you took the trade, make sure to book profits or move stops to break even. We are at a critical point right now and if we get a correction here we will go and break the low. Cheers!
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