When this chart forms a triangle pattern, it can be decided that on the one hand we have a fake breakout, which is why we can buy on the support areas of $0.03848 and $0.04015 and sell on the resistance areas of $0.04302 and $0.04524.
Uptrend scenario of Gold Entry above 1896 TP: 1904 & 1911 & 1924 SL: 1890 RISK 2%
Hey everyone. I just was analysing this chart and saw good waves technic. We can see the main first wave down than we can see correction up - this is the second wave and now we can wait for the third wave down and it is going to be the biggest wave of this trend. My plan is really big but we have to wait around 2 days What do you think?
I am looking to get long at around the .618 retrace around 120.50-120.30 level. I would let price test this level before getting long. Once I get long I'm looking to take profits at the 122.00 even handle. If we get a strong close above 122.00 I would then look for a retrace to get long for a longer trend continuation play to 124's. Conversely if we get to our...