GOLD : LH,LL Pattern activated
Gold is in long term bullish trend and as we must find weakness in rising market to join the buyers from value areas. Sometimes it is very lucrative to take counter trend setups , provided they form from a major key long term level.
$1555 and $1525 are two major resistance levels which this asset has rejected on the weekly & following this , the daily has activated the LH,LL pattern and we are expecting LL2 on the confirm break of the current multiple inside bar pattern. But be aware and keep in mind the fake out pin bar that we might get after faking out the multiple inside bar setup and then closes back within the inside bar structure.
Ideal Stop placement for Shorts is well above the $1525 supply area with profit targets the $1440 Demand area. We will be on a look out for a price action Setup from a lower time frame to take entries.
Gold is in long term bullish trend and as we must find weakness in rising market to join the buyers from value areas. Sometimes it is very lucrative to take counter trend setups , provided they form from a major key long term level.
$1555 and $1525 are two major resistance levels which this asset has rejected on the weekly & following this , the daily has activated the LH,LL pattern and we are expecting LL2 on the confirm break of the current multiple inside bar pattern. But be aware and keep in mind the fake out pin bar that we might get after faking out the multiple inside bar setup and then closes back within the inside bar structure.
Ideal Stop placement for Shorts is well above the $1525 supply area with profit targets the $1440 Demand area. We will be on a look out for a price action Setup from a lower time frame to take entries.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。