Short position for GOLD for a short term :) (double top pattern)
Updated
Overall, Gold still be in the up trend but it found resistance zone and form a double top candle stick pattern.
I use MACD to track OB/OS signal and also use reversal candle stick pattern to confirm short position.
However, the overall trend still be in the up trend. Using proper risk and money management is a must.
Indeed, you may use M30 and H1 for better decision.
Wait the price to retest the resistance zone before placing short.
This analysis is optional for traders. Not all of analysis will be correct.
Good luck guys :D
I use MACD to track OB/OS signal and also use reversal candle stick pattern to confirm short position.
However, the overall trend still be in the up trend. Using proper risk and money management is a must.
Indeed, you may use M30 and H1 for better decision.
Wait the price to retest the resistance zone before placing short.
This analysis is optional for traders. Not all of analysis will be correct.
Good luck guys :D
Note
Now it drops.Could buy @1712
Note
target 1700Note
lowest @1706Note
lowest 1692 :D
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