Things to note on Daily Gold Chart:
1) RSI is under 50 and heading southbound
2) Note: Price Zone Reversal on chart (orange area)
3) Yes, all of 2017- Gold has been making a beautiful channel pattern (yellow area)
4) Yesterday price action made a very small DOJI candlestick or undecided
5)* Remember trade with TREND
6) I see gold could reverse after hitting $1240.00 today or this week.
7) PRICE ACTION is now in price zone reversal area (per left of chart), so could either continue to be bearish and/or reverse to bullish.
8) Before doing any LONG trades will be looking for a major bullish reversal pattern like: Harami, Engulfing or Pinbar
Patience and waiting is your friend in trading. Quality trading not quantity trading is your other friend in trading. Wish you the best.
1) RSI is under 50 and heading southbound
2) Note: Price Zone Reversal on chart (orange area)
3) Yes, all of 2017- Gold has been making a beautiful channel pattern (yellow area)
4) Yesterday price action made a very small DOJI candlestick or undecided
5)* Remember trade with TREND
6) I see gold could reverse after hitting $1240.00 today or this week.
7) PRICE ACTION is now in price zone reversal area (per left of chart), so could either continue to be bearish and/or reverse to bullish.
8) Before doing any LONG trades will be looking for a major bullish reversal pattern like: Harami, Engulfing or Pinbar
Patience and waiting is your friend in trading. Quality trading not quantity trading is your other friend in trading. Wish you the best.