Hi Guys,
Good trade yesterday.. Gold spike up to test the 1494 and then fall to test the support at 1480 (almost touch it)..
As for today, referring to the H4 and H1 chart below, we can see that gold is reaching the bottom line of the pennant shape, where it might break and continue down it may reverse back to test the upper resistance...
Looking at the daily chart, we can see a bullish flag pattern..
BIAS
My bias for today trade are
1. SELL once gold break 1480... Sell Stop 1479 with intraday TP 1470 / Swing TP 1460
2. Short term BUY with target TP 1494
Note: Even the daily chart shows a formation of bullish flag, candles still point downward.. with BREXIT and cooling US-CHINA trade war, we might see gold to continue it's movement down... Anyhow, this is only my analysis and view... Feel free to discuss below...
May all of us got win and achieved our daily target... Monitor your margin... Trade safe... If any of you guys benefited with my analysis, kindly comment "Yay!" below :)
Good trade yesterday.. Gold spike up to test the 1494 and then fall to test the support at 1480 (almost touch it)..
As for today, referring to the H4 and H1 chart below, we can see that gold is reaching the bottom line of the pennant shape, where it might break and continue down it may reverse back to test the upper resistance...
Looking at the daily chart, we can see a bullish flag pattern..
BIAS
My bias for today trade are
1. SELL once gold break 1480... Sell Stop 1479 with intraday TP 1470 / Swing TP 1460
2. Short term BUY with target TP 1494
Note: Even the daily chart shows a formation of bullish flag, candles still point downward.. with BREXIT and cooling US-CHINA trade war, we might see gold to continue it's movement down... Anyhow, this is only my analysis and view... Feel free to discuss below...
May all of us got win and achieved our daily target... Monitor your margin... Trade safe... If any of you guys benefited with my analysis, kindly comment "Yay!" below :)