As you can see it created a Head and Shoulders pattern. It is also had passed the Neck. 1st target is less than 1 on R/R, so I would use the 2nd target - 10 pips, as the stop on the shoulder - 10 pips.
It is only for my studying. I would be glad for any constructive criticism.
SMA200 above price, with the angle down - downtrend.
Low lows and low highs - downtrend.
Cons: there is news very closely.
Sell Stop below daily support line, as 50% Fib Retracement.
S.L. a little above last High.
T.F. a little above last Low, as 61.8% of Fib Extention.
It is for my education only.
Would be very glad for any constructive criticism.
First, I am at very beginning of my Forex studing. So I am very opened for yours constructive criticism.
If Dollar will stop to mess all pairs at market, Gold must be return to going UP.
RSI and Stochastic showing Bullish Divergence on 4H chart.
Entering price is 1324.2 - above daily resistance area.
Stop Loss is 1311.81 - a bit low of upper limit of weekly...