Heres a solid idea for GOLD!
We are looking at a potential bearish butterfly pattern to complete on gold. This trade will be reliant upon a false breakout for gold in order to succeed.
The current price point of 1240 has been respected over the last month, and yet fails to be broken just yet.
Our scenarios
1. If price action reverses at the 1240 we will look to enter via a bullish cypher or shark.
2. If price reaches our entry point and gives us signs for reversal, we will look to short via butterfly
3. If price does not give us a reversal sign it is most likely GOLD continues to increase in price
As of now, we will continue to monitor gold and see where it will take us.
Scenario 2 would possibly be the highest outcome
If you want to learn the trades and how to execute
patreon.com/indigotradinggroup
Thanks and good luck <3
We are looking at a potential bearish butterfly pattern to complete on gold. This trade will be reliant upon a false breakout for gold in order to succeed.
The current price point of 1240 has been respected over the last month, and yet fails to be broken just yet.
Our scenarios
1. If price action reverses at the 1240 we will look to enter via a bullish cypher or shark.
2. If price reaches our entry point and gives us signs for reversal, we will look to short via butterfly
3. If price does not give us a reversal sign it is most likely GOLD continues to increase in price
As of now, we will continue to monitor gold and see where it will take us.
Scenario 2 would possibly be the highest outcome
If you want to learn the trades and how to execute
patreon.com/indigotradinggroup
Thanks and good luck <3
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.