GOLD | 3 reasons to BUY gold from support...
Please Support this Idea with LIKE if it is Useful....
GOLD
The price is approaching strong Support/Resistance level, If price holds the level as a support then there is a chance that we might get a good opportunity to Buy from that level..
Reasons:
1. Price could form a potential Double Bottom.
2.Price could be forming a Potential H&S pattern.
3.Looking at the daily chart,price had a big downfall from $1700 to $1450 level,It definitely needs a Pullback.
and $1450 is a very strong Support level.
In case,If price breaks below the Support then we can look for Sell trade after a pullback..
For Entry:
Wait for the formation of Bullish Candlestick Pattern to close on 4hr timeframe for confirmation to BUY..
Trade it with proper Sl..
Take entry only after price gives bullish signals..
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
GOLD
The price is approaching strong Support/Resistance level, If price holds the level as a support then there is a chance that we might get a good opportunity to Buy from that level..
Reasons:
1. Price could form a potential Double Bottom.
2.Price could be forming a Potential H&S pattern.
3.Looking at the daily chart,price had a big downfall from $1700 to $1450 level,It definitely needs a Pullback.
and $1450 is a very strong Support level.
In case,If price breaks below the Support then we can look for Sell trade after a pullback..
For Entry:
Wait for the formation of Bullish Candlestick Pattern to close on 4hr timeframe for confirmation to BUY..
Trade it with proper Sl..
Take entry only after price gives bullish signals..
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Comment:
Its not double top its double bottom..