hey traders
look at the chart, gold still playing in a bullish parallel channel
blue lvls = long-term fib ext
yellow lvls = long-term dynamic lvls ( Pitchfan )
white lvls = long-term fib retracement
all these 3 lvls confirm this area for potential resistance area
as long we play below the dynamic and fibs in 4H n daily TF, we can expect the selling pressure to the marked area in the chart
what u think about Gold ?
share ur chart n leave a comment
look at the chart, gold still playing in a bullish parallel channel
blue lvls = long-term fib ext
yellow lvls = long-term dynamic lvls ( Pitchfan )
white lvls = long-term fib retracement
all these 3 lvls confirm this area for potential resistance area
as long we play below the dynamic and fibs in 4H n daily TF, we can expect the selling pressure to the marked area in the chart
what u think about Gold ?
share ur chart n leave a comment
Trade active
entry 2358.403
Note
we gt the first rejectionNote
EMA 50-200 bearish cross will b one of the confirmation for brearish scenario n we dont have it yetNote
this time we need 2 go below the area and candles need to stabilize below the EMAs, if it happen, the green area must turn to red, it will b one of the confirmations for the bearish scenario
Note
we got the bearish cross herecandles need to close below the channels n fib in 4H TF for next move
Note
Still valid and rejecting from the HTFNote
Still rejection from the Higher TF, make sure u will protect ur profitMake sure u will protect ur profite
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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.