A zoom in to 4H chart regarding previous gold analysis. With light blue color the 4H support/resistances with alerts ready in order to observe price action and act
accordingly for entering either one of the 5 miscallaneous long entries at retest of supports, either one for short.
FYI, every level can bounce for 30 pips e.g. 1810 area can give a big drop starting with 30 pips, continuing deeper for trapping selleres and then go back up break 1810 and reach to higher levels. I am maingly into buys but I wouldn't reject to a nice sell.
Careful with the trendline. It can be easy to be invalidated by fakeout and the come inside again. The trend is still bullish. 1804-1810 can give sell pressure.
1725-1733 and 1745 and 1755 and 1767 area can give good buys.
The point is what type of trader you are? The answer to this will define many things in your mind.
Also, what type of trading should you adjust to according to current data, price action, break-retests and news already release? (We avoid trading during news).
accordingly for entering either one of the 5 miscallaneous long entries at retest of supports, either one for short.
FYI, every level can bounce for 30 pips e.g. 1810 area can give a big drop starting with 30 pips, continuing deeper for trapping selleres and then go back up break 1810 and reach to higher levels. I am maingly into buys but I wouldn't reject to a nice sell.
Careful with the trendline. It can be easy to be invalidated by fakeout and the come inside again. The trend is still bullish. 1804-1810 can give sell pressure.
1725-1733 and 1745 and 1755 and 1767 area can give good buys.
The point is what type of trader you are? The answer to this will define many things in your mind.
Also, what type of trading should you adjust to according to current data, price action, break-retests and news already release? (We avoid trading during news).
Trade closed: target reached:
08 Dec to 09 Dec - overall +220 pips