Gold Update
Gold has formed:
1- Valid ascending channel (in blue) with multiple touches .
2- Head & Shoulders (in yellow).
3- Resistance on the right shoulder.
As long as the right shoulder resistance still stand with no broken candle, both 2 & 3 are still valid and considered as good strategies
Now we’re waiting for an H8 candle to broke and close clearly under the last touch (trigger point) of the our blue channel and to retest and get rejected from below of the channel so we can enter a Short (sell) trade
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1- Valid ascending channel (in blue) with multiple touches .
2- Head & Shoulders (in yellow).
3- Resistance on the right shoulder.
As long as the right shoulder resistance still stand with no broken candle, both 2 & 3 are still valid and considered as good strategies
Now we’re waiting for an H8 candle to broke and close clearly under the last touch (trigger point) of the our blue channel and to retest and get rejected from below of the channel so we can enter a Short (sell) trade
Follow us for more ideas and updates
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