Hey Traders, I recently posted an idea regarding Gold & a possible reversal coming in the metals. We got confirmation that the metals have reversed trend on the 4hr chart therefore I have closed my long position and opened a new short position to take advantage of the weakness in the metals. We are seeing a Head & Shoulders reversal along with a bearish flag pattern (shown on charts below). My analysis shows that gold will at least retest its daily low or long term trend line before continuing higher.
Entry-1252.00
Target-1225.00
Stop-1270.20
Entry-1252.00
Target-1225.00
Stop-1270.20
Trade closed: target reached:
Target 1 was reached with ease and this turned out to be another great trade published here on trading view! Please check out my latest update regarding gold & Silver, if you haven't already. Here is the link to that idea, showing what I will be looking for over the next couple of weeks! Thanks Traders!
