GoldCartel

Potential Nice trade - Bearish Pennant

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Short-term plan:
- I reckon it will be ranging for a day or a few days inside the bearish pennant . If the price rejects the bottom pennant line, it's a nice risk-reward ratio to enter a long position targeting the mid resistance and maybe the upper bearish pennant line.

Long-term plan:
- If the price goes up from the bottom pennant and rejects the mid or the upper pennant line, I will enter a large short position targeting the 1700s and 1500s zones long-term.

This week until January 20, 2021, I'm expecting a wild price movement. Keep your guard up and adapt to the market condition to act accordingly.

PS: I'm too busy with my clients, I won't share any updates
I'm not a salesman who sells a "Master class trading strategy." I'm a full-time trader, and I trade to pay my bills.

I provide daily detailed analysis and trading setup.
More info: https://t.me/goldcartel

Comments

as usual, the best analysis
+1 Reply
GoldCartel Dribrahimq8
@Dribrahimq8, Thanks for the positive feedback
Reply
Nice analysis 🙏
+1 Reply
GoldCartel CollegeofPips
@CollegeofPips, Thanks for the feedback
Reply
am very new,i do appreciate ur efforts ,many thanks
+1 Reply
GoldCartel mohammediqbal61429
@mohammediqbal61429, My pleasure, I'm glad if it helps
Reply
Good
+1 Reply
GoldCartel Cess-gail
@Cess-gail, 🙏
Reply
plan b
+1 Reply
GoldCartel muqeetforex
@muqeetforex, Time will tell
Reply
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