Gold has been bullish in the past few weeks. It has came down to consolidate and break more stop losses. But do not be deceived that the market has changed to a bearish market. It is still bullish so look for buys at the current area, in case it breaks the area, then stops should be applied.
Alternatively, if the price goes up and retests the resistance line I marked and 4H candle fails to close above. Then the correction hasn't completed. It will continue downward to the 50% or 61.8% fib areas before continuing the bull run.
Let me know your thoughts and if you agree, give me a like.
Alternatively, if the price goes up and retests the resistance line I marked and 4H candle fails to close above. Then the correction hasn't completed. It will continue downward to the 50% or 61.8% fib areas before continuing the bull run.
Let me know your thoughts and if you agree, give me a like.
Trade closed: stop reached
Note
An update of my trade setup.
Note
Missed out on this trade as I was on a holiday. Looking still bullish.
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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.
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.