GOLD 400 pips drop was expected, can cycle repeats?
Updated
GOLD
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⏳1 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational
—————-❇️——————-
Detailed analysis 💬
1️⃣ Channel breakout-H1
2️⃣ Risk sentiment around the global market
3️⃣ Parabolic movement
4️⃣ 1900.00 key psychological resistance
5️⃣ Approaching towards 1850.00
6️⃣ Minor correction expected
7️⃣ Technical support - Bear
8️⃣ Price is under POC-VOLUME
9️⃣ September low-Immediate resistance
🔟 Series of LH LL LH LL patterns
#️⃣ Overall bearish trend
—————-❇️——————-
📉 Technical bias-H1
Below 100,200 Exponential moving average
RSI- Bounce from 30 level- Over sold bounce
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend
—————-✳️——————-
Key reversal area's
1900.00 Key psychological level
1850.00 September month low
1850.00 Previous double bottom area
1932.00 Dynamic support level
1840.00 Key reversal area, Counter trend
1947.00 Point of control
1935.00 October high area
—————-✳️——————-
Bearish entry #Gold
Entry price - 1880.00
Take profit 01 - 1865.00 (150 pips)
Take profit 02 - 1855.00 (250 pips)
Take profit 03 - 1840.00 (400 pips)
🚫 Stop lose 1893.00 (130 pips)
⬇️ 2.24% Drop expected
⤴️ Account growth 0.68 : 2.24
✅ Risk reward ratio 1 : 3
—————-⚜️——————-
Push the like button , And cheer up if you found useful
*********
⏳1 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational
—————-❇️——————-
Detailed analysis 💬
1️⃣ Channel breakout-H1
2️⃣ Risk sentiment around the global market
3️⃣ Parabolic movement
4️⃣ 1900.00 key psychological resistance
5️⃣ Approaching towards 1850.00
6️⃣ Minor correction expected
7️⃣ Technical support - Bear
8️⃣ Price is under POC-VOLUME
9️⃣ September low-Immediate resistance
🔟 Series of LH LL LH LL patterns
#️⃣ Overall bearish trend
—————-❇️——————-
📉 Technical bias-H1
Below 100,200 Exponential moving average
RSI- Bounce from 30 level- Over sold bounce
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend
—————-✳️——————-
Key reversal area's
1900.00 Key psychological level
1850.00 September month low
1850.00 Previous double bottom area
1932.00 Dynamic support level
1840.00 Key reversal area, Counter trend
1947.00 Point of control
1935.00 October high area
—————-✳️——————-
Bearish entry #Gold
Entry price - 1880.00
Take profit 01 - 1865.00 (150 pips)
Take profit 02 - 1855.00 (250 pips)
Take profit 03 - 1840.00 (400 pips)
🚫 Stop lose 1893.00 (130 pips)
⬇️ 2.24% Drop expected
⤴️ Account growth 0.68 : 2.24
✅ Risk reward ratio 1 : 3
—————-⚜️——————-
Push the like button , And cheer up if you found useful
Trade closed: stop reached
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