SOME SIGN OF REVERSAL ON GOLD WEEKLY
Dear Traders,
I just saw something very interesting that we need to note. I just checked the weekly time frame and noticed that last weekly candle closed as a Doji. A "Doji Candlestick" is a candle stick that closes at about the same point it opened. When you see a "Doji" at the bottom of a down trend, it's a sign of reversal in trend.
As you can see from the chart here for the past 4 weeks consecutively, Gold has been trending downwards and achieved closure above 1780.
If today's daily candle closes Bullish, then we may expect a rested of 1780 area for a bullish continuation. At this point. we need to exercise patience and be a bit careful about selling gold in the course of the week. Gold looks to me it's about to start buying but we require other confirmation. Any daily closure below the trend line will invalidate the possibility of a bullish trend.
A daily closure above 1808 with further validate a bullish run for Gold...
Happy Trading...
If you like this idea, please let me get some like
I just saw something very interesting that we need to note. I just checked the weekly time frame and noticed that last weekly candle closed as a Doji. A "Doji Candlestick" is a candle stick that closes at about the same point it opened. When you see a "Doji" at the bottom of a down trend, it's a sign of reversal in trend.
As you can see from the chart here for the past 4 weeks consecutively, Gold has been trending downwards and achieved closure above 1780.
If today's daily candle closes Bullish, then we may expect a rested of 1780 area for a bullish continuation. At this point. we need to exercise patience and be a bit careful about selling gold in the course of the week. Gold looks to me it's about to start buying but we require other confirmation. Any daily closure below the trend line will invalidate the possibility of a bullish trend.
A daily closure above 1808 with further validate a bullish run for Gold...
Happy Trading...
If you like this idea, please let me get some like
Comment:
If you saw this idea when I published on the 14th of December 2020 and you can see that exactly what I predicted that same then has happened and we are now seeing a strong bullish trend. Please give me an hi-5 and like my idea. please put your comment in the comment box.
FINSPOT ACADEMY