Hello every one this is my idea for gold on daily time frame ..
We might have a potential Ascending triangle pattern We try to play by this pattern rules
Let us discuss our entry and exist and targets ..
For bulls... ( buying thesis )
You wanna buy from green line to target red line .. stop loss daily candle close below green line
You wanna buy if price close above red line to target 2300 Area .. stop loss daily candle close below green line
For bears .. ( selling thesis )
You wanna sell from red line to target green line stop loss daily candle close above red line ..
You wanna sell if price close below green line to target Area between 1720-1680 .. stop loss daily candle close above green line
another indicator that could help us is the RSI ... price could be trading between green line and red line ... those lines are very important .. if one line breach
trend can change keep this in your mind ..
for any question feel free to ask :) and good luck
We might have a potential Ascending triangle pattern We try to play by this pattern rules
Let us discuss our entry and exist and targets ..
For bulls... ( buying thesis )
You wanna buy from green line to target red line .. stop loss daily candle close below green line
You wanna buy if price close above red line to target 2300 Area .. stop loss daily candle close below green line
For bears .. ( selling thesis )
You wanna sell from red line to target green line stop loss daily candle close above red line ..
You wanna sell if price close below green line to target Area between 1720-1680 .. stop loss daily candle close above green line
another indicator that could help us is the RSI ... price could be trading between green line and red line ... those lines are very important .. if one line breach
trend can change keep this in your mind ..
for any question feel free to ask :) and good luck