simple support and resistance and identifying essential zones
PRICE HAS BROKEN BELOW OUR SUPPORT ZONE AND NOW RETESTED SO WE ARENIW GOING TO LOOK FOR SELLS
PRICE COULD BREAKOUT ON EITHER DIRECTION
going short again for gold today. potential descending triangle forming
pRICE ACTION HAS FORMED AN ASCENDING TRIANGLE PATTERN INDICATION THAT PRICE WILL GO UP.ON THE 2 HOUR CHART WE HAVE A NICE UP TREND WHICH IS WHERE IM BASING MY TP ON.tHIS TRADE SHOULD TAKE MAYBE A WEEK OR EVEN 2
PRICE IS IN A NICE UPTREND FORMING HIGHER HIGHS AND HIGHEER LOWS. WE HAVE CONFIRMATION THAT THIS PAIR IS IN A REVERSAL DUE TO PRICE ACTION.NOW ALL WE GOT TO DO IS BE PATIENT.WAITING FOR PRICE TO HIT THE TRENDLINE.PRICE CONFIRMATION AND THEN WE CAN SAFELY ENTER
I CANNOT STRESS THIS ENOUGH PATIENCE AND DISCIPLINE IS KEYYYY
tHIS IS JUST A SIMPLE DOWNTREND STRUCTURE.PRICE HAS NOW REACHED THE TRENDLINE AND IS STARTED TO REJECT ITSELF INTO THE SELL OFF ZONE.WITH THIS GLOBAL PANDEMIC GOING ON MARKETS ARE ALL PLUNGING SO THATS JUST ABIT OF FUNDAMENTALS TO BACK THIS VIEWPOINT.GIVE THIS TRADE ABOUT 4 HOURS AND WATCH IT HIT TTAKE PROFIT LIKE WE AWAYS DO!
HERE ON THE CHART, WE SEE A SYMMETRICAL TRIANGLE PATTERN. PRICE HAS STARTED TO BREAK IN THE BULLISH SIDE SO WE SHOULD BE SEEING FURTHER BULLS WITH THIS PAIR FROM NOW ON .
PRICE IS FOLLOWING A GOOD UPTREND WITH HIGHER HIGHS AND HIGHER LOWS, WITH GOOD PRICE REJECTION CANDLES AT THE BOTTOM OF THE CHANNEL.