Here is what to expect on Gold
RECAP: (Previous Analysis)
In our previous analysis the pair was trading at $1702
We expected a reversal at this point to the upside
& cautioned that if the pair broke below this level it would most likely
go back to the $1680 level.
Hopefully the pair did reverse back to the upside, triggering our Buy Stop
@ $1720 & also hitting our TP @ $1730 enabling us to bank 100 pips on the pair
WHAT TO EXPECT:
Currently trading @ $1730
Inverse head & Shoulders pattern on 1H chart
We are still bullish on the pair & we still expect gold to test $1760
hopefully this week.
This will be confirm if pair breaks above current downtrend trendline & also minor
resistance at $1740
On the other hand if the pair falls below $1700 we might see it test
previous lows of $1680
OUR POSITIONS:
Buy Stop @: $1740
Buy Stop TP @: $1750
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP: (Previous Analysis)
In our previous analysis the pair was trading at $1702
We expected a reversal at this point to the upside
& cautioned that if the pair broke below this level it would most likely
go back to the $1680 level.
Hopefully the pair did reverse back to the upside, triggering our Buy Stop
@ $1720 & also hitting our TP @ $1730 enabling us to bank 100 pips on the pair
WHAT TO EXPECT:
Currently trading @ $1730
Inverse head & Shoulders pattern on 1H chart
We are still bullish on the pair & we still expect gold to test $1760
hopefully this week.
This will be confirm if pair breaks above current downtrend trendline & also minor
resistance at $1740
On the other hand if the pair falls below $1700 we might see it test
previous lows of $1680
OUR POSITIONS:
Buy Stop @: $1740
Buy Stop TP @: $1750
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
