all details on chart, in m5 we just build new downtrend, we can try to sell now with tight stops. Target will be net support zone (green)
Gold is in a downtrend on a daily and on the hourly too. we can sell gold now at resistance, tight sl at 1228.25, normal sl over 1130.25. Frist target will be support zone at around 1220.
follow the trend to the support zone. there we may see the end of the correction and the big up after.
on the daily and weekly we re in the uptrend and on the hourly in a correction which could be finished today. lets see. crv of the trade is absolutely nice so u can try this kind of trade 5 times and u still have huge plus if it works the 6th.
we re still in valid downtrend in weekly daily hourly and m15. continuation to downside is highest possibility for me.
with break of flag upside to the trendline should be possible.
with break of flag we can buy untill first trendine
wait for hourly close, if flag is broken sell!
possibly running flat, wait for buy setup in smaller time frames. could reach the 1.618 fibo. of the last correction and an important horicontal resistance.
im looking for buy opportunities after the break of the flag.
stops below last 15 min low at horicontal line. buy now
I think this will come down at least to trendline . if it breaks i wait for a little correction and then for a sell. im looking for a shortsetup to the trendline in the h1 chart.
This pair broke the big daily trendline . in the daily chart it made a min. correction in form of abc flag. look for short setups in the h1 chart back to the trendline of the bearish flag , if we break it look for another sell.