Gold scalp/swing Both scenarios
If gold can close an hourly above the trendline look for an upside to the 1739-1740 region(big fakeout zone and previous range top) if it gets through look for an upside of the upper trendline and afterthat the psycological level of 1750(previous rejection zone)
Buy on a retest of the trendline and rebound off or when it breaks the previous 1739 level.
As i publish this a hourly has closed above the trenline but started pulling back slightly.
Be cautious because we are in a downtrend on a 4hr timeframe and we completed a pin formation down (went below the neckline and recovered)
Levels and trendlines to watch:
Alternatively/if rejected or falls below the trendline again:
To be safe wait for hourly closes
Thanks:)
Buy on a retest of the trendline and rebound off or when it breaks the previous 1739 level.
As i publish this a hourly has closed above the trenline but started pulling back slightly.
Be cautious because we are in a downtrend on a 4hr timeframe and we completed a pin formation down (went below the neckline and recovered)
Levels and trendlines to watch:
Alternatively/if rejected or falls below the trendline again:
To be safe wait for hourly closes
Thanks:)
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