Prepare for a drop on GOLD
After yesterday's news we saw some moves but not a clear direction.
We're expecting this to continue, but then a further drop to the downside.
If you're trading on the lower timeframes then you should know that we might see price up at 1800, but this is not a level at which we will buy.
Instead of that we would be looking for a possible reversal and short entries from there.
Entries only when you see reversal candles that confirm the setup.
Those are engulfing candles or long wicks to the upside.
We're not using pending orders and we're not entering trades from current price levels using tight stops!
The next move down should reach 1730 and even lower.
In case of a good downside move we might be looking at a pretty decent risk to reward ratio and potential for a great trade!
See how this develops in our daily analysis!
We're expecting this to continue, but then a further drop to the downside.
If you're trading on the lower timeframes then you should know that we might see price up at 1800, but this is not a level at which we will buy.
Instead of that we would be looking for a possible reversal and short entries from there.
Entries only when you see reversal candles that confirm the setup.
Those are engulfing candles or long wicks to the upside.
We're not using pending orders and we're not entering trades from current price levels using tight stops!
The next move down should reach 1730 and even lower.
In case of a good downside move we might be looking at a pretty decent risk to reward ratio and potential for a great trade!
See how this develops in our daily analysis!
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💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💰 PAID SIGNALS AND ANALYSIS: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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