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Built up Bottom on H4 ?
Hey guys..
first of all, if you look at Gold on H4 you clearly can see that there was built up an bottom.
So, we have an possible trend reverse. :))
To this Chart (H1):
We still have trenlines that are showing a down trend, good for us in an upwards trend -> we can use this trendlines as target for our long entries!
Be stopped at our resistance but closed few point above last high from the end of October -> long
I drawed in an possible long entry.
Entry:
- round about 50% retracement of our big movement.
StopLoss:
- Under our Support at 1310.XX
TakeProfit:
- At our resistance from horizontal point of view at 1375.XX and our red trendline!
Happy Trading Bro's <3
first of all, if you look at Gold on H4 you clearly can see that there was built up an bottom.
So, we have an possible trend reverse. :))
To this Chart (H1):
We still have trenlines that are showing a down trend, good for us in an upwards trend -> we can use this trendlines as target for our long entries!
Be stopped at our resistance but closed few point above last high from the end of October -> long
I drawed in an possible long entry.
Entry:
- round about 50% retracement of our big movement.
StopLoss:
- Under our Support at 1310.XX
TakeProfit:
- At our resistance from horizontal point of view at 1375.XX and our red trendline!
Happy Trading Bro's <3
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