Hey Traders! Hope you guys having a good week. So let's start with forecast analysis for Gold pair. In this analysis, I am going to write a summary so that it is easy for us to analyze the chart. See below analysis for each time frame;
1) Monthly - Price still at Supply Zone and RSI shows 70% oversold. If the price breaks 1599, it is a bullish sign as the major trend still uptrend. Otherwise, if not break, we still can short with tight stop loss.
2) Weekly - Price at Resistance line as well as the RSI shows 70% oversold. As you can see, the chart pattern showing Rising Wedge which is a good sign if you go short for this week.
3) Daily - Price action as of today 3rd Feb 2020 shows Tweezer Top, which a strong sign for bearish if the daily price today close above yesterday price. Daily chart pattern shows Rising Wedge same as weekly pattern.
4) 4H - The pattern in a smaller time frame shows Double Top as reversal pattern to go bearish. We can chip in short or wait until the price retest the marked zone in the chart.
I think that's all for my analysis from 3rd until 7th of February 2020. This analysis based on my perspective and follow at your own risk. Happy trading fellas!
1) Monthly - Price still at Supply Zone and RSI shows 70% oversold. If the price breaks 1599, it is a bullish sign as the major trend still uptrend. Otherwise, if not break, we still can short with tight stop loss.
2) Weekly - Price at Resistance line as well as the RSI shows 70% oversold. As you can see, the chart pattern showing Rising Wedge which is a good sign if you go short for this week.
3) Daily - Price action as of today 3rd Feb 2020 shows Tweezer Top, which a strong sign for bearish if the daily price today close above yesterday price. Daily chart pattern shows Rising Wedge same as weekly pattern.
4) 4H - The pattern in a smaller time frame shows Double Top as reversal pattern to go bearish. We can chip in short or wait until the price retest the marked zone in the chart.
I think that's all for my analysis from 3rd until 7th of February 2020. This analysis based on my perspective and follow at your own risk. Happy trading fellas!
Kommentar:
If you short, close at monthly support as stated in the chart. Price might be go to the retest zone. Find long entry until price reach at retest zone.
Trade ist aktiv:
As expected few days ago, gold going to the retest zone. We can find short entry, perhaps, test the zone and make wave 3 at least until 1,540. Last but not least, congrats to those who go long and profit for the past 2 days!
Trade geschlossen: Ziel wurde erreicht:
Yes! Profit all the way! Seems like Gold was in a right track as forecasted. Hit the retest line and will it be touch down? Let see... So are you ready for the next battle? I will keep my analysis posted with additional prediction. Ciao
Trade ist aktiv:
Hey fellas! As of today, Gold still at retest line. Yesterday daily candlestick shows doji and if today candle close bearish, it is advised you find short entry. I expect, Gold will make pullback atleast until support line marked in the chart.
Trade geschlossen: Ziel wurde erreicht:
Gold at bullish momentum. It breaks the retest zone. We find long entry.
