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
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
My forex telegram channel:
t.me/melikatrader94GoldForex
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
My forex telegram channel:
t.me/melikatrader94GoldForex
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.