Advanced and classical long opportunities on Gold
A cypher pattern is forming on the daily/4h chart of Gold in line with structure looking left. The daily could potentially print a morning star at this level, however we would require a daily closure for confirmation.
On the lower time frame we have three possible entries:
1. There is a smaller cypher pattern forming, which could be your entry reason on the LTF and an aggressive entry technique for the right shoulder trade
2. Classic completion of the inverted head and shoulder pattern on the 60 chart
3. Aggressive entry in anticipation of the right shoulder completing the head and shoulders pattern
As always you should ensure that you are using appropriate risk and money management. Best of luck.
-P.S.
On the lower time frame we have three possible entries:
1. There is a smaller cypher pattern forming, which could be your entry reason on the LTF and an aggressive entry technique for the right shoulder trade
2. Classic completion of the inverted head and shoulder pattern on the 60 chart
3. Aggressive entry in anticipation of the right shoulder completing the head and shoulders pattern
As always you should ensure that you are using appropriate risk and money management. Best of luck.
-P.S.
Trade active:
The inverted head and shoulders failed, however, the cypher trade is progressing to initial targets. Stops moved to break even to protect our capital.