Hi guys, we got a potential long and short trade opportunity here in the GOLD market. An emerging bullish bat and bearish bat pattern that soon to be completed. My bias on this market is for market to go up. Caveat. Entry, Stop loss and Profit takings are based on the pattern's setup. Trade at your own risk.
Bottom red dotted line is the Bearish Bat pattern's Point of ruin while the upper red dotted line is the Bullish Bat pattern's point of ruin. Price breaking or retracing/moving to the red dotted line will invalidate particular setup. Please be advised.
Bottom red dotted line is the Bearish Bat pattern's Point of ruin while the upper red dotted line is the Bullish Bat pattern's point of ruin. Price breaking or retracing/moving to the red dotted line will invalidate particular setup. Please be advised.
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On the monthly, market is forming quite of an ascending triangle.
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On the daily we can also see market reacting on a potential diagonal resistance. Candle breaking and closing outside the resistance, will give more of a bullish bias and looking to buy/long on this one. Care.
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