gold now is moving in range for a while forming a triangle.
in lower time frame ( lower than 4H) we may see an upward pressure soon the condition of this strategy
is price won't close below my baseline also can close above the trend line.
in any of this case we can expect target around 2000$ or less.( resistant area of my chart).
also we should consider on higher time frames trend is bearish yet.
so if and only if price could hold my baseline it probably moves upward if closed below my baseline we can expect more bearish coming. let's see
Enjoy the market
in lower time frame ( lower than 4H) we may see an upward pressure soon the condition of this strategy
is price won't close below my baseline also can close above the trend line.
in any of this case we can expect target around 2000$ or less.( resistant area of my chart).
also we should consider on higher time frames trend is bearish yet.
so if and only if price could hold my baseline it probably moves upward if closed below my baseline we can expect more bearish coming. let's see
Enjoy the market
Comment:
this strategy will be invalidate if price close below the baseline
Order cancelled:
this strategy seems invalidate now. however my baseline is key level yet. I mean closing above it has chance to validate my first call but closing below it has chance for more drop, targets in both case are on my chart below.
