Hey traders
! **(SEE BELOW FOR H4 TIME FRAME)**
This is my bullish bias on GOLD , based on a multi time frame analysis .
We have a great accumulation as you can see on the charts :
- Weekly parralel channel bounce (purple)
- High momentum bounce on this channel with a hammer candle.
- A strong support zone
- Fibonacci for entry/exit as usual
- Forming a reversal pattern with the start of a new bullish trend
- Standard deviation (Secret theory)
For this trade , I have two potential targets as you can see on the charts.
Good luck everyone !
- Alex
! **(SEE BELOW FOR H4 TIME FRAME)**
This is my bullish bias on GOLD , based on a multi time frame analysis .
We have a great accumulation as you can see on the charts :
- Weekly parralel channel bounce (purple)
- High momentum bounce on this channel with a hammer candle.
- A strong support zone
- Fibonacci for entry/exit as usual
- Forming a reversal pattern with the start of a new bullish trend
- Standard deviation (Secret theory)
For this trade , I have two potential targets as you can see on the charts.
Good luck everyone !
- Alex
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Here is the H4 Analysis :
