Good morning, traders! Hope yall had an amazing weekend! Let's look at our gold trade again we made last week. This trade is definitely going to our future trading manual. Beautiful TP and it even managed to break the key level.
What's now? Well, it seems like gold isn't that strong below this pennant area, so it's trying to get back there. If it manages to close a couple of H4 candles above the lower trendline, that's a buy. If it starts creating a top on lower timeframes in that area without closing in the pennant itself that's a sell - simple as that. Trade safely and we'll keep you updated!
What's now? Well, it seems like gold isn't that strong below this pennant area, so it's trying to get back there. If it manages to close a couple of H4 candles above the lower trendline, that's a buy. If it starts creating a top on lower timeframes in that area without closing in the pennant itself that's a sell - simple as that. Trade safely and we'll keep you updated!