The Gold chart has a lot of info in display.If you go with the most current structure, you will see an (M) formation first,then a Bullish Flag and when you zoom out you notice a bigger structure of an Inverse Head and Shoulders(IHnS).
So basically, there should be a short term sell to complete 90% of the M before moving upwards. This would mean placing a reminder at 2895.3 for the reversal of the M.
As for the Bullish Flag it should be at 2904.0 but this can lead to a stop loss hunt if your SL
isnt big enough to anticipate a wick all the way to 2892.0 or slitely further.
Finally, the as for the Inverse Head and Shoulders(IHnS), the best entry would be at 2895.3
So basically, there should be a short term sell to complete 90% of the M before moving upwards. This would mean placing a reminder at 2895.3 for the reversal of the M.
As for the Bullish Flag it should be at 2904.0 but this can lead to a stop loss hunt if your SL
isnt big enough to anticipate a wick all the way to 2892.0 or slitely further.
Finally, the as for the Inverse Head and Shoulders(IHnS), the best entry would be at 2895.3
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.