Harmony prepping for potential upside - Wait for breakout
Harmony is one of the laggards with Gold.
While it is moving in a sideways consolidation range, we are waiting for a confirmed breakout.
Once it breaks above, we will definitely get long and hold with a strong Risk to Reward.
But right now patience is important, cause it could also fall South quickly.
In fact, if you draw a Rectangle formation instead of an Inv H &S, it means that whether it breaks down or up, it could provide a very decent trade signal.
My bias is up purely based on being a golden bull this year.
While it is moving in a sideways consolidation range, we are waiting for a confirmed breakout.
Once it breaks above, we will definitely get long and hold with a strong Risk to Reward.
But right now patience is important, cause it could also fall South quickly.
In fact, if you draw a Rectangle formation instead of an Inv H &S, it means that whether it breaks down or up, it could provide a very decent trade signal.
My bias is up purely based on being a golden bull this year.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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