We are moving in ascending channel and just bounce from its resistance and formed H&S on top.
Sell order:
enter at 1240
with SL 1247
and TP at 1225
Buy limit order:
limit order at 1225
with SL at 1217
and TP #1 - 1245
and TP #2 - 1256
Happy trading for everybody!
Feel free for comments!
As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is...
The reason why we feel GOLD may Rise.
* On weekly basis it has just started moving DOWN
* To SINL and come near 1228 levels
* Stoch RSI (3,3,14,Close) is Sinking.
* RSI (14,CLOSE) is Sinking.
* CCI (20,CLOSE) is Sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :1245.09,...
DJIA is expected to sink now.
There are many reason why we feel it may sink.
01. It has CLEARED quarterly TARGET 02 level. and may come down for a bounce back soon.
02. Bearish Engulfing in daily Chart.
03. To sink and come near 1204 to 1197 levels
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06....
GOLD is expected to sink now.
There are many reason why we feel it may rise.
01. It had almost touched Target 03 of Quartely.
02. Hammer pattern in daily Chart.
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart...
