1H chart strategy on gold

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the ascending channel is our key

first scenario price will close below 1984$ and close below channel. we go for short


*second scenario price will hit the baseline around 2003$ then drop. we go for short

in first scenario stop loss would be above 1984$

in second scenario stop loss would be above 2006$


*target in both scenario in the case of drop is around 1960$ ( 1962$~1958$).

closing above 2006$ will invalidate our trade strategy.



Enjoy the market

٢٦ أبريل ٢٠٢٣

تم فتح الصفقة

so right now based on the strategy our short position triggered, however in bigger timeframe things may change and bulls get stronger . if the price don't back into the bigger channel ( descending channel on my chart) and closed above 2006$( our stop loss) then it is wise we change our position to long with the target on my chart.