GOLD
Updated
Taking momentum into account and change of obvious market structure it only makes sense for my analysis to be bearish.
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.
PLAN:
1.Momentum is down so im looking for a break of support zone.
2.Preferably a close below the support on the daily but if i get 4hr closes below followed by 4hr retests that will still be valid for me.
3.Wait for key candles like bearish engulfing or a doji, anything to signify rejections or reversals.
4. Execute sells with propper risk management and 20-30pip stops.
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.
PLAN:
1.Momentum is down so im looking for a break of support zone.
2.Preferably a close below the support on the daily but if i get 4hr closes below followed by 4hr retests that will still be valid for me.
3.Wait for key candles like bearish engulfing or a doji, anything to signify rejections or reversals.
4. Execute sells with propper risk management and 20-30pip stops.
Note
trade still active, we just need to wait for break of this support zone and a retest, got alerts set so will patiently wait.Note
Not added to spreadsheet yetNote
Don’t add to spreadsheet
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