GOLD ⇒ why we should consider the long position
Updated
hello guys...
as I published before the weekly candle didn't form as a hunting one, so we cannot count on a short position until a downward engulfed happens.
hence, at a 4h time-frame, you can see the last high is engulfed by the price recently, on the other hand, starting of the upward movement begins with the full body candle that I pointed out on the chart!
so we can assume the gray area will be a fascinating area for retracement!
let's check the upper time frame:
at a daily time frame, we can see the price touched (not broken out or engulfed) the importance zones, such as S&D and the start of compression.
at a weekly time-frame you can see the last touched place was the flip area like a last kiss:
overall you can get a long position on the gray area or at the start of the full-body candle and the target is 2065 so far.
_______________________________
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
as I published before the weekly candle didn't form as a hunting one, so we cannot count on a short position until a downward engulfed happens.
hence, at a 4h time-frame, you can see the last high is engulfed by the price recently, on the other hand, starting of the upward movement begins with the full body candle that I pointed out on the chart!
so we can assume the gray area will be a fascinating area for retracement!
let's check the upper time frame:
at a daily time frame, we can see the price touched (not broken out or engulfed) the importance zones, such as S&D and the start of compression.
at a weekly time-frame you can see the last touched place was the flip area like a last kiss:
overall you can get a long position on the gray area or at the start of the full-body candle and the target is 2065 so far.
_______________________________
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
Trade closed: target reached
the first target touched
#xauusd #gold
Trade closed: target reached
the last target touched:
👉my recommended broker:
bit.ly/HYCM-M
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👉my recommended exchange:
bit.ly/LbankMelika
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My telegram channel:
t.me/melikatrader94
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
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