A DROP TOWARDS THE $2485.06 IS POSSIBLE
The recent formation of a bearish Luftwing Candle on the 4-hour chart confirms the sell bias in the Gold market. This pattern indicates that sellers are gaining control, reinforcing the likelihood of a downward move. Currently, the price sits at $2507, and I'm anticipating a potential sell-off after a retest of key resistance levels.
Trade Setup:
Sell Entry: A sell stop order can be placed to activate the entry at the retest point. This ensures entry as the market confirms the bearish momentum.
Target: I'm looking for a drop towards the $2485.06 zone, where the next major support lies. This represents a key target for this short trade.
Confirmation: The bearish Luftwing Candle provides a solid confirmation for this setup, showing rejection of higher prices and suggesting further downside pressure.
Risk Management:
Ensure to manage risk appropriately, with a stop-loss placed above the recent highs to protect against any unexpected bullish reversals.
Trade Setup:
Sell Entry: A sell stop order can be placed to activate the entry at the retest point. This ensures entry as the market confirms the bearish momentum.
Target: I'm looking for a drop towards the $2485.06 zone, where the next major support lies. This represents a key target for this short trade.
Confirmation: The bearish Luftwing Candle provides a solid confirmation for this setup, showing rejection of higher prices and suggesting further downside pressure.
Risk Management:
Ensure to manage risk appropriately, with a stop-loss placed above the recent highs to protect against any unexpected bullish reversals.
For Private classes message me on telegram t.me/theLastluftwaffe
FOR FREE SIGNALS JOIN NOW!!
t.me/LuftwaffeCartel
Tip ETH: 0xa5F4d7C5c1A6C0892684B0fcba6579B17B86a471
May the PIPs favour YOu!!!
FOR FREE SIGNALS JOIN NOW!!
t.me/LuftwaffeCartel
Tip ETH: 0xa5F4d7C5c1A6C0892684B0fcba6579B17B86a471
May the PIPs favour YOu!!!
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.