Gold possible Buy continuation trade
I'm looking for a consolidation followed by a Buy opportunity for gold.
First have a look at the bigger picture for context. I'm looking for a long term bottom but there is still a serious probability that this long term bottom isn't in place yet.
I've counted the current move on the 4hr chart as an A-B-C where wave C is currently in progress. We have to keep in mind that in case Gold really decides to take off this will most likely change into a 1-2, 1-2-3 pattern where the move started with an extension (A-B ). However that is too soon to tell and not relevant for the next possible trading opportunity.
I'm looking for a consolidation as shown by means of the 'bear-flag' /'channel'. (this is only an indication).
I will look to buy the next impulse to test the upper long term trend line (black).
Updates will follow.
timstuyts.com
facebook/timstuyts/
First have a look at the bigger picture for context. I'm looking for a long term bottom but there is still a serious probability that this long term bottom isn't in place yet.
I've counted the current move on the 4hr chart as an A-B-C where wave C is currently in progress. We have to keep in mind that in case Gold really decides to take off this will most likely change into a 1-2, 1-2-3 pattern where the move started with an extension (A-B ). However that is too soon to tell and not relevant for the next possible trading opportunity.
I'm looking for a consolidation as shown by means of the 'bear-flag' /'channel'. (this is only an indication).
I will look to buy the next impulse to test the upper long term trend line (black).
Updates will follow.
timstuyts.com
facebook/timstuyts/
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.