MGC/Gold - Short Term Long
The overall structure appears to be long.
Key Takeaways:
No Economic or Financial data this week so the trend should continue
With inflation, Gold buys make more sense
Risking 13 pips and Potential Target 25 pips
Generally, Gold 1st 30 min candle will create a wick and 2nd 30 min candle will move the opposite way.
In this trade, 8am EST candle tag previous day lows and 2nd 30min candle break the previous 30 min candle very QUICKLY and then start moving the opposite direction
Key Takeaways:
No Economic or Financial data this week so the trend should continue
With inflation, Gold buys make more sense
Risking 13 pips and Potential Target 25 pips
Generally, Gold 1st 30 min candle will create a wick and 2nd 30 min candle will move the opposite way.
In this trade, 8am EST candle tag previous day lows and 2nd 30min candle break the previous 30 min candle very QUICKLY and then start moving the opposite direction