A Possible 1,000+ Pip Opportunity in Gold
DISCLAIMAR: THIS IS NOT A TRADING SIGNAL, THIS IS JUST AN IDEA. STUDIES SHOW OUT OF 3,000 BUSINESS IDEAS, ONLY ONE OF THEM IS SUCCESSFUL! (KINDA OFF TOPIC, BUT YOU GET THE MEANING!). DO NOT TRADE BASED ON THIS IDEA. USE YOUR OWN ANALYSIS AND STRATEGIES
GOLD shows signs of a possible strong up-trend move, but the possible up-trend faces some critical challenges as explained below:
1- Gold was closed last week in a critical zone between 1810.23 to 1927.11, for the up-trend to start, it needs to cross this zone with a 4H or at least 1H candle.
2- If the zone is crossed, three target lines are provided on the chart. Each target line also happens to be an important resistance area, Gold price needs to break each resistance area with 4H or 1H candles to continue the up-trend.
3- Then comes another critical zone between 1905.00 to 1928.00. If this zone is crossed, the last target of the up-trend is identified on the chart.
This pattern could take a few weeks to shape up. Gold is known for surprise sharp reversal moves, therefore, BECAREFUL with your trading.
Have a profitable week!
Cheers,
Dastan
GOLD shows signs of a possible strong up-trend move, but the possible up-trend faces some critical challenges as explained below:
1- Gold was closed last week in a critical zone between 1810.23 to 1927.11, for the up-trend to start, it needs to cross this zone with a 4H or at least 1H candle.
2- If the zone is crossed, three target lines are provided on the chart. Each target line also happens to be an important resistance area, Gold price needs to break each resistance area with 4H or 1H candles to continue the up-trend.
3- Then comes another critical zone between 1905.00 to 1928.00. If this zone is crossed, the last target of the up-trend is identified on the chart.
This pattern could take a few weeks to shape up. Gold is known for surprise sharp reversal moves, therefore, BECAREFUL with your trading.
Have a profitable week!
Cheers,
Dastan