hello traders , so as i predicted last week gold perfectly droped to the 1920-1925 area.
unfortunately for me i didnt manage to catch the move i was waiting for a retest for of the 1940s, and that didnt happen so i didnt make anymoney even tho my analysis went +200 pips.
but it is what it is this is apart of trading , there will be more opportunities in the future.
anyways it seems like gold might continue this bullish rally. as we can see the price formed a head and shoulders pattern it is very possible we might see gold drop another 200 pips back to the 1880-1900 area.
here are our bearish clues :
- dollar still too strong
- the head and shoulder formation
- Friday 1D Candle closed as a massive Inverted hammer Rejecting the 1920-1925 zone
the breakout of the neckline will be our confirmation.
also keep in mind this week is very action packed we have alot of stuff coming out like CPI which will determine the fate of the dollar and the direction of Gold .
this is no financial advice just my humble opinion hope you liked the idea make sure to like and follow my trading view i post weekly setups and signals.
unfortunately for me i didnt manage to catch the move i was waiting for a retest for of the 1940s, and that didnt happen so i didnt make anymoney even tho my analysis went +200 pips.
but it is what it is this is apart of trading , there will be more opportunities in the future.
anyways it seems like gold might continue this bullish rally. as we can see the price formed a head and shoulders pattern it is very possible we might see gold drop another 200 pips back to the 1880-1900 area.
here are our bearish clues :
- dollar still too strong
- the head and shoulder formation
- Friday 1D Candle closed as a massive Inverted hammer Rejecting the 1920-1925 zone
the breakout of the neckline will be our confirmation.
also keep in mind this week is very action packed we have alot of stuff coming out like CPI which will determine the fate of the dollar and the direction of Gold .
this is no financial advice just my humble opinion hope you liked the idea make sure to like and follow my trading view i post weekly setups and signals.
