Gold Reversal Confirmed! New Short Trade!
Hey Traders, I recently posted an idea regarding Gold & a possible reversal coming in the metals. We got confirmation that the metals have reversed trend on the 4hr chart therefore I have closed my long position and opened a new short position to take advantage of the weakness in the metals. We are seeing a Head & Shoulders reversal along with a bearish flag pattern (shown on charts below). My analysis shows that gold will at least retest its daily low or long term trend line before continuing higher.
Entry-1252.00
Target-1225.00
Stop-1270.20
Entry-1252.00
Target-1225.00
Stop-1270.20
Trade closed: target reached
Target 1 was reached with ease and this turned out to be another great trade published here on trading view! Please check out my latest update regarding gold & Silver, if you haven't already. Here is the link to that idea, showing what I will be looking for over the next couple of weeks! Thanks Traders!
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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.
Related publications
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.