I am presenting traders a trading opportunity in Gold for this coming trading Week. My analysis shows the Break of the tightest trading in golds history over the last 10yrs. This has been the first trading opportunity i've had interest in; since October this year. The break out in gold illustrates a few key thing.
Strong Downtrend to a pullback; or a relief. At this point sellers were taking profits. And new buyers began to enter the market. But as these patterns typically play out. A retest of previous structure support. Sometimes follows thru with a continuation move to the downside. Note: This doesn't always happen. But its well anticipated.
Technicals Overview.
Consolidation Break out. Strong sell off. Relief/Pullback. Trend Continuation to the downside.
Fundamentals.
1. US Tax Reform . Dec 22nd.
2. Low volume trading for the closing months of the Year.
Entry- 1259.72 SL- 1265.78 TP 1212.00
Strong Downtrend to a pullback; or a relief. At this point sellers were taking profits. And new buyers began to enter the market. But as these patterns typically play out. A retest of previous structure support. Sometimes follows thru with a continuation move to the downside. Note: This doesn't always happen. But its well anticipated.
Technicals Overview.
Consolidation Break out. Strong sell off. Relief/Pullback. Trend Continuation to the downside.
Fundamentals.
1. US Tax Reform . Dec 22nd.
2. Low volume trading for the closing months of the Year.
Entry- 1259.72 SL- 1265.78 TP 1212.00
Trade closed: stop reached