Gold - weekly forecast on 4H - how to trade
Dear traders and followers,
the Gold price broke out of the triangle pattern and closed several times above it on the 4 hour chart.
The MACD indicator buy volume is growing again and on higher time frames (12 hour and one day) is a buy signal incoming.
Market opening Monday night will be interesting for further movement but the market is likely to retest at least the 2000 $ area next week.
Expect the following two possibilitys:
Nr. 1: Market fail to break the 1980 $ resistance short time after opening and within 24 hours as latest. This will bring the price down to 1950 $ area which is a good buy entry in the next week. Market start up movement after confirming this price area as new strong support.
Nr. 2: Market breaks 1980 $ within 24 hours after opening. Wait for a short term retracement and enter the market at 1980 $
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Thanks for your support !
the Gold price broke out of the triangle pattern and closed several times above it on the 4 hour chart.
The MACD indicator buy volume is growing again and on higher time frames (12 hour and one day) is a buy signal incoming.
Market opening Monday night will be interesting for further movement but the market is likely to retest at least the 2000 $ area next week.
Expect the following two possibilitys:
Nr. 1: Market fail to break the 1980 $ resistance short time after opening and within 24 hours as latest. This will bring the price down to 1950 $ area which is a good buy entry in the next week. Market start up movement after confirming this price area as new strong support.
Nr. 2: Market breaks 1980 $ within 24 hours after opening. Wait for a short term retracement and enter the market at 1980 $
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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