Daily time frame analysis shows Gold making correction as we can see the price near 0.618 Fibo level. I expect the price will make correction/retracement for these few days before it continues for bullish momentum. On top of that, the RSI already oversold at 88% which means it will act as our confirmation for short entry. Last but not least, we need to wait for price action 25th Feb 2020 as last confirmation before we go short just to ensure the price not break the resistance line. This is because the major trend still uptrend so why not we wait and be patient in order to have a consistency profit. So, that's all for my analysis and trade at your own risk. Ciao!
Trade active
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As expected, Gold is making correction. Hit our 1st TP. Now road to 2nd TP. Daily candle in the making of hanging man. In 4H we can see head and shoulder pattern. It is a strong signal to sell.
Trade closed: stop reached
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Congratulations to shorters! You made it this week! We hit our 3rd TP of this week. So, time to enjoy your weekend. Let's see what will happen next week! Adios...
Trade closed: target reached
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Congratulations to shorters! You made it this week! We hit our 3rd TP of this week. So, time to enjoy your weekend. Let's see what will happen next week! Adios...