As you can see in the chart Gold has rejected two times from 1740
(NECKLINE) of H&S and also created Consolidation.
Now we are expecting Gold will come back to 1714 weekly pivot
and supported trendline. which is also called a confluence area.
Moreover, Gold hasn't retest 20EMA in Daily TF, so this means that the
recovery is not over yet. Crossover of 20 & 50 shows me
some Bullish Bias.
Confirmation: Wait for a Confluence Area 1714 and don't jump into a buying
If market shows some price action than Enter.
Target objective is 1762.
Every system has a limitation!
(NECKLINE) of H&S and also created Consolidation.
Now we are expecting Gold will come back to 1714 weekly pivot
and supported trendline. which is also called a confluence area.
Moreover, Gold hasn't retest 20EMA in Daily TF, so this means that the
recovery is not over yet. Crossover of 20 & 50 shows me
some Bullish Bias.
Confirmation: Wait for a Confluence Area 1714 and don't jump into a buying
If market shows some price action than Enter.
Target objective is 1762.
Every system has a limitation!
