Hey Trading view. Bringing you a breakdown of potential price action for the Gold Market this week.
We are what appears to be facing a pull back from the dense gold rally this year.
This is a healthy adjustment for the safe haven asset. We are experiencing this pull back due to easing of global reduction concerns.
Mainly brought to us by the Oct Trade meeting with China. This schedule adjusted the atmosphere of the market temporarily. Providing a more risk on atmosphere.
With gold prices declining slowly. We have discovered a potential trading opportunity for the short side. That we have enough time to investigate and bring to you.
Technically. This is a head and shoulders pattern that may ruin the progress of this bullish trend we have been in. We have a potential $40.00 price decline to view.
Use proper risk assessment at all times.
Cheers.
We are what appears to be facing a pull back from the dense gold rally this year.
This is a healthy adjustment for the safe haven asset. We are experiencing this pull back due to easing of global reduction concerns.
Mainly brought to us by the Oct Trade meeting with China. This schedule adjusted the atmosphere of the market temporarily. Providing a more risk on atmosphere.
With gold prices declining slowly. We have discovered a potential trading opportunity for the short side. That we have enough time to investigate and bring to you.
Technically. This is a head and shoulders pattern that may ruin the progress of this bullish trend we have been in. We have a potential $40.00 price decline to view.
Use proper risk assessment at all times.
Cheers.
Trade active
Trade closed: stop reached