Hello traders,in this analysis for gold I had previously seen a harmonic pattern last week that was unsuccessful and after reevaluating my trade I noticed there was an even stronger harmonic pattern than the first one.Before drawing my harmonics I noticed that there was a head and shoulders pattern that seemed to be weak since the left shoulder's demand seemed to be much greater than the right side, after doing this I went on a hunt for more structure and found treasure! On a fundamental aspect we can observe that there was a morning star buy signal that was produced following the Brexit news on the 2 of December @1815. Later we can we that the bears came in and took control near 1830 but weren't able to maintain their foothold,as more news came out the bulls were able propel the price over 140 via bullish engulfing candle but before doing so there was a small amount of imbalance in the beginning of the trend.If we look at the dates of the news events we can see that the open of the London session on Dec. 1 and the close of the New York session left some demand on the table and as we all know, the banks don't like to leave anything on the table... if they do its most likely a trap so beware! IF YOU LIKE MY TRADE ANALYSIS LEAVE A LIKE AND COMMENT FOR ME, THANKS!
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.
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.