Yooo wassup people, today we have our friend gold. Gold has taken its time for the first two days of trading to figure out it wanted to push downwards. Now we are in a developed downtrend on the hourly and this makes our job a little more difficult since we will soon have to search for. a place to catch a reversal move to the upside or just wait for another pull down.
With none of that in mind, if we observe the trend its obvious that we are moving down, so it would be favorable for us to look for shorts. Currently, i would wait for price to hit the lower support i have marked and wait for price action because it is very likely that gold would just shoot up after building enough liquidity. If your going to short, do it now or wait for price action later on tonight, then if it continues, we can ride the wave to the green dashed line i have marked as a target.
Thanks for reading this far! More ideas to come so feel free to follow me to stay up to date with my ideas and be a part of the precision family.
TRADE SAFE, TRADE ACCURATE, LETS IT YALL
With none of that in mind, if we observe the trend its obvious that we are moving down, so it would be favorable for us to look for shorts. Currently, i would wait for price to hit the lower support i have marked and wait for price action because it is very likely that gold would just shoot up after building enough liquidity. If your going to short, do it now or wait for price action later on tonight, then if it continues, we can ride the wave to the green dashed line i have marked as a target.
Thanks for reading this far! More ideas to come so feel free to follow me to stay up to date with my ideas and be a part of the precision family.
TRADE SAFE, TRADE ACCURATE, LETS IT YALL