Gold -- Upgrade Your Trading To Higher level By Following This🗒 Just browsing through my analysis means a lot to me.
➡️ Please follow the analysis very carefully and every detail of the chart means a lot. And always entry depends on many reasons carefully studied
Always enter into deals when there are more than 5 reasons
combined
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How To Trade Like big Boy's - and Have Full Vision To Compete The Market
By Using Gann Square Fixed
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First Step -- Chose Good Low Far From Current Price Area --
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Second Step - First Vertical line Should be on Next Bottom
That before the Sharp Movement
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Step 3
Reversal Zone Here as we Can See
----- Price Sharp Movement when Enter this
Time Zone + Support line + Square line
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Step 4 We Can Easly See a Very Good Support line
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Step 5 We Can Easly See a Very Good Support line
With Time Zone Here - So Good Reversal
this mean Reversal Zone ..
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you Can Mix this Strategy with Trend analysis and your own Style to maximum your Earning's
Metals
Why chasing % should be your focus and not pips!Here we look at 3 traders, all claiming to have a winning trade with 100 pips - however, with very different % gains on their accounts.
The main part of trading is profitability, you can not pay your bills with pips.
This explains what you need to focus on and be aware of!
Hope it helps,
Regards
Darren
Win rate. How to stay if profit zone...This painting is quite simple, but many novices can't use it because they don't have the patience.
So, they close their profitable positions with 1/1 or 1/2 risk/reward ratio.
But hold losses for a long time.
Hope this post will save your money and time.
You can be in profits even with low persentage of successfull trades but as you see only with 1/5 ratio!
Keep calm! Use predictable ratio! Become better every day!
Push like and write your comments.
Thanks for your support!
Basic explanation of elliot wave using GOLD Here's a short video for any new traders who want to learn the basics of elliot wave analysis. I made this for a friend but thought I'd just post it on a public platform so it could help others as well.
Pardon the quality! I've never made a video before so shall continue to improve in the future :)
What is Gold? Why Gold is deflationary and grow up in the time!!In this technical analysis, I'm enfocous in Gold.
It's simple. Gold is money, when in the pass Gold was used as money to keep in our hand to negotiate the object's value. But in the humanity history, the bankers are smart to create the paper money, now this paper money is called US Dollar, Euro, Sterling Pound, Australina Dollar. etc.... No matter what currency you have, because it's have risk to save your money in the bank.
So, guys, this analysis is for you if you want to invest in Gold. The problem of the situation is that people are poors because the bankers created money of any, it's mean that central banks print more money to pass hand to hand on the governmet and they have a national debt that the country need to pay, but it's not payable becuase while more money have in the circulation, the currency value is devaluated through the time, and then create risk for employers, bussiness and society, that they doesn't understand it and created poors in the society.
It's simple, Gold = Money and Money = Debt, while more money have, more debt have the world and we need to out to work to pay this national debt to been slave.
So, guys, for me it's important to know these concept, also if you're new here, I invited you to follow me for tradings, investments and more.
I add important links to see it my other analysis related.
I see a Gold in 10 years near of $8,000 USD
GOLD - Using price patterns to time reversals of trends.With the market watching out for Gold to hit the $2000 level, once this occurred and broke higher you have to always be cautious and take a step back before jumping into any longer term trend continuation plays.
When new record highs or lows get established in any market that is highly liquid, its good to keep your options open and try and look at the market with also a contrarian point of view as well.
To many new and novice traders will just expect prices to keep climbing and jump into the move with no account for strategy, analysis or more importantly a study of price.
Looking at Gold, we wanted to keep an open mind and read the price action especially when your looking for counter trend moves as this will lower the probability of a trade but when you are patient and follow the structure of price you can get some good nuggets of information that can really help you time your trade.
As you can see on the 1 Hour chart, price was moving up nicely until it formed a bearish 3 drive pattern in the process. This pattern can be a good indicator of price exhaustion especially when you can see these being formed on no less then a 1 Hour time frame.
Once we saw the pattern complete, that alone is not enough, we need to be patient and find a lower trend line, preferably with multiple hits registered on the line for if this breaks to the down side as well, this not only gives us good reason to enter the trade short but it allows for greater timing and accuracy of the trade.
We would look to place our stop just above the 3rd and final drive high to start with, as we are trading the pattern so there is no need to place it very far away.
What is Intvesting, how to? How to invest in gold?Interesting era. Everyone is just jumping into investing.
With brokers advertising how easy it is "just send a couple hundreds and get started right away", day trading instructors, central banks & regulators doing everything in their power so absentee afk passive investors that just randomly throw money at broad indexes do not lose money.
Anything but that!
Well that's not how it is supposed to be and the US are now experiencing a communist uprising so well done here.
The world is moving towards a new world order and the infinite free money bubble will end. Lazy bums born into wealth are going down.
Nothing is priced correctly, the rich get richer just because of how the system is built, and it is worse in the usa where they print money for the rich and export some of the inflation, of course all these blm & antifa clowns are too stupid to figure that one out but this is the reason why they are so angry.
Investors are supposed to add value and make their money via superior intuition and knowledge, they use their above average foresight and understanding of whatever they trade to allocate capital correctly.
The only day traders that make money are those that access to level 2 market data and what they do is front run participants, this does not make as much money.
I irritates me seing clueless people talk about FX & Futures day trading. This is not stocks. The markets are not open 8 hours a day what's wrong with you?
So there are 2 types (not counting all the ones that lose money):
-> Day traders that are like little aphids living on plants, tiny little parasites that cannot make lots of money
-> Passive investors that pat themselves on the back for buying random indexes or property, they're like big gross worm parasites that live in intestines
These passive investors are like renters of the 19th century that got very wealthy doing nothing, and gave Karl Marx & Engels their wonderful ideas.
So. The paradigm is changing, new world order, great reset, everything. Unlike anything we experienced in our lifetimes.
People should start getting used to NOT making money doing nothing, this paradigm is over. If crooked politicians try bailing out the banks with taxpayers money they'll get decapitated. It is possible the angry mobs even manage to figure out they do it indirectly, but even if they don't the party is over anyway it will all collapse like Zimbabwe.
George Soros which is one of the earliest macro/forex traders and the best performing one to this day, said that investors and speculators were the same, investors make money by finding cheap businesses or fair priced, that they believe will do well in the future, and if they are right they make a return for correctly speculating.
There is no "long term" trick. "Historically always go up". No. These people will learn a harsh lesson. Trying to find tricks to be lazy and cheat their way into wealth pssst.
Sure if you sacrifice your money today, place it somewhere rather than enjoy it, you should get something in return, but not 13% compounded a year.
I'm not going to make a whole investing guide nor a general introduction here, but let's look at the case of gold: what are the different approaches?
1- Wealth preservation
2- "Investing" long term speculation looking for 3k, 5k, or more
3- Trying to catch short term rallies inside of the bull market
This is what I do. Very short term I would say even. 2 weeks ago I even had several operations with gold where I stayed in only a few hours, I remember one of them I entered during the late afternoon and got out at 3 am.
"Why only take small bits if you see a big bull market rather than try to get all of it"
Idk I'm impatient. And more importantly I'm good at it, and some of these crazy moves are just so unidirectional you get both a high probability of success AND big risk to reward ratios.
I'm still (bag)holding my first speculative trade, you'll never guess what it is xd
4- Get rich quick
==> Either a delusional gambler or the greatest investor of all time
Enjoy losing everything
Ok that's enough. Either way, one should do their research (this means more than 30 minutes of watching youtube) and have a plan.
Silver is greatly outperforming gold now, I love it
Just so much stronger! I called it in my 07 August update in the idea below ("I would buy some silver on the pullback. Expecting gold to slow down and silver to go fast now.")
This is why I am very active and operate on short time frames. I'm rather bullish on metals compared to fiat in the long term but I am not going to predict targets, or which metal will go up most in the next years, but I will predict what will happen in the next days with good accuracy. And I'm too impatient with a atrophied attention span to look at years anyway. I have my big doubts on accurate long term prediction, with all the chaos that adds up over time.
🦶 If you want to be successful and rich-start with the book! 💰 "The richest man in Babylon" is one of my favorite and best books on Finance that I have ever read!
👉 First, it is simple and small. Stories from it can even be told to children in the form of fairy tales, and you can read the book for a couple of hours.
👉 Secondly, it is wise and practical. Everything is clear and simple-if you want to be rich, start with the first step and follow the advice from the book.
👉 third, it helped me personally and my environment. I can't remember many books that have influenced me and my way of thinking so much!
🌞 Briefly about the book itself.
It helps us explore aspects of personal success for each of us. Recipes for escape from poverty and lack of money can become the basis for understanding financial laws. Like the laws of nature, the laws of money have been around for a long time. And if your goal is to accumulate money, then the author, Samuel George Clayson, is ready to offer to penetrate the mystery of money in order to accumulate capital, save it and make it work for profit. The pages of the book will take you to Ancient Babylon — the cradle of basic financial laws that remain relevant to this day.
Author George Clayson was born in 1874. He was always concerned about the financial literacy of the population, so in 1926 he published a series of pamphlets written in the style of Babylonian parables. These pamphlets were distributed to banks and insurance companies, and then combined into the book "the richest man in Babylon", which was published in the same year. To date, more than 2 million copies have been sold worldwide.
✍ This is briefly about the history of books and what they teach.
1) the history of the arcade and its wealth mentor Aglamis. Wisdom - part of the money in the first place belongs to you.
2) King Sargon, and a request to teach Arkada residents the laws of money. Wisdom-start making simple rules of wealth, there are only 7 of them.
3) Temple of Knowledge and history arcade about luck and luck. Wisdom-luck favors people of business.
4) the Story of Nomazir, son of Arkad, 5 laws of wealth. Wisdom - your goals and desires have a powerful force, combine this energy with knowledge of the 5 laws of wealth - and huge treasures will become yours.
5) Rodan, 10 gold coins and the wisdom of the usurer Maton. Wisdom - a little caution is better than a big disappointment.
6) Banzar and the walls of great Babylon. Wisdom - without protection, we can't afford to stay.
7) a Cautionary tale of Dabazir's slavery for Tharkad. Wisdom - if you have determination, you will always achieve the goal.
The clay tablets in the book contain the records of dabazir, in which He shares his notes, such as 5 pieces published in the book. They contain many interesting wise tips on how to pay off your debts.
8) Sharru Nada, a merchant from Babylon, and a grandson of Arad Gula named hadan Gula. Wisdom-love to work and do your job with your soul.
💎 Briefly about the laws of wealth from the book:
Law 1. Start filling your wallet.
Save at least a tithe of your income. If you can save more, it's great. You may say that you are already poor, but you will be surprised that saving this 10% will not affect your standard of living in any way.
Law 2. Track your expenses.
The more you earn, the more you want to spend. But don't confuse immediate expenses with whims. Make a budget and write down a list of necessary expenses. When you have a desire to spend, think about whether this desire really needs to be quenched. And in no case do not spend more than 90% of your earnings. "Save more next month" is a road to nowhere.
Law 3. Multiply your fortune.
Money should not be a dead weight in your wallet. Wealth is not an accumulated fortune, but an income that is constantly growing. Put money at least on Deposit.
Law 4. Protect your fortune so that you don't lose it.
When you invest money, the principal amount should not be affected. Avoid too risky trades and promises of quick earnings. Be sure to consult with experts and think of ways to leave the "sinking ship".
Law 5. Housing can be a profitable investment.
The rental fee is sometimes the same as the loan payment for it. With the only difference that in 10 years you will not own the housing. And although Klayson did not live in modern Ukraine with constant financial crises, dreams of their own homes still warm the soul of most people.
The law 6. Provide income for the future.
Once there were no pensions at all, but now they do not guarantee a comfortable old age. Think about yourself and your family in advance, what will happen to you in 10, 20, 30 years. Insurance and deposits in land and real estate will be useful here.
The law 7. Learn to earn more.
Develop your abilities, learn new skills, and gain wisdom. Look for new markets, ask for advice, and invest in your training.
Advice if you are in debt.
If you not only live in zero, but also owe other people, in this case, too, there is a Babylonian story. On behalf of Dabasir, the camel trader, Clayson offers the following solution to the problem: first, make a list of all who you owe money to and exactly what amount. Divide your income into ten equal parts, spend seven out of ten on urgent needs and small joys, so that you can still enjoy life, and not sink into depression. Distribute another 20% monthly to pay off the debt. And tithe, as in rule # 1, save to increase your income later.
🧲The same Board with the "Golden rules" of attracting money:
1) Gold is drawn to those who save a tenth of their earnings, ensuring the future of themselves and their family.
2) Gold works in full force for the wise owner, who puts it profitably into the business.
3) Gold needs protection, and therefore prefers caution and advice from wise people.
4) Gold does not like to be forced to work in a field where a person is not knowledgeable.
5) Gold eludes those who invest it in adventurous or ill-conceived projects, embodying romantic dreams of wealth.
Be sure to read this book. You won't regret it!
PS: in 2010, when I first read this book, I was so impressed with its wisdom and prostate that I decided to buy 10 copies and give them to my friends and family. And what was my surprise when 10 years later I saw that their life had not only not changed, but also became harder and poorer! Now, if someone tells me that they want money or to be rich, I offer them the first step - to save for themselves for 45 days, first of all, 100 rubles! It's so easy! And when a person doesn't respond to me after 45 days, or says that they didn't learn from it, or comes up with any excuses why they didn't do it, I understand the power of the action and what they really want.
💸 I wish you health, wisdom, wealth and prosperity!
Question to those who have read this book. And what would you choose-a bag of gold (ten million rubles) or a clay tablet with wise and proven laws of money (the book "the richest man in Babylon")?
Fast Market Moves And FOMO - Don't Get TrappedWhen the market moves strongly in a direction, you might feel the need to jump in and chase the trade because of the Fear Of Missing Out (FOMO).
Don't do that.
In fact, if you spend some time looking at the charts, you will find that often with such sharp fast market moves, the potential for a trade in the same direction as the fast move is over by the time people start reacting out of fear of missing out. This is when trades get squeezed and people lose money fast.
When you listen to experienced traders talk about such fast moves, you will often hear comments like "Wow, XYZ has rocketed up, but it's too late to enter now, I'll rather wait for a good pull back and see if there is an opportunity to enter later". You might actually hear them say that the move has gone too far from the moving average (maybe the 9 EMA or even 20 EMA) and that it's more likely that it will cause a "rubber band" effect with the price action moving back closer to the average.
The market may continue to rocket up or down, but let it go, don't chase that move, wait for your turn to get a good entry spot.
This is true no matter what you trade, Forex, Crypto, Stocks or Commodities, they all exhibit this tendency to recover (often quickly) when the price has suddenly moved too far from the average price. New traders are often caught off-guard by this, and tend to jump into the trade exactly when others are exiting their positions, so don't give in to FOMO. The market will give you many trading opportunities during the day, be patient and don't trade out of fear or greed.
Golden Opportunities- lessons from the last two yearsIt all started with gold prices falling in 2018, and after a while, I started looking for potential opportunities in Gold. What followed was a long time friend by the same namesake suddenly popped up to ask for my opinion specifically about gold... and this was two years ago today, short of a few days, in mid-August 2018 (see chart by zooming out).
Since then, the gray arrows mark the theoretical ideal entry points and the white arrows are my real entry points. You can see a particular pattern here, which I spoke of previously, where it is more favorable a time for entry based on a set of rules that includes technicals and patterns, providing a higher probability of a good profit, be it for a trade, investment, or longer term holding.
Coming back to the last two weeks, I have had many people asking about gold, and my opinion about it, etc. many are ready to enter the gold market. You see, most of it was sparked off by the recent gold rush (as is always), and I noticed that often, there is a lack of rules from the beginning, for entry nor for exit.
So herein is a visual set of rules I have for entry in gold which were tested over the last two years...
1. Price must break above a down sloping trend line; and
2. MACD must cross the zero line; and
3. Price must be higher than the recent highs (of the last 11/13/21, whichever is preferred)
These rules work very well, particularly when two conditions are met:
1. Weekly chart is favorable in trend (this case, trending up); and
2. There is a strong fundamental reason (this case is very robust for Gold to be in favour)
So there you go... I hope everyone can see that to buy gold at the current time (or In recent weeks) is probably not as favorable as you would like it to be, notwithstanding that Gold may advance higher at some point, anyways. In fact, it is projected that gold should be topping out around 2100, next week perhaps (reference the white line).
Best Times To Play The Markets, Swing Trader Perspective.Here we have a chart of Nikkei 225 index on a 3 day chart.
Nothing is more powerful than identifying potential trend reversals, notice that I said "potential".
Nothing is guaranteed when it comes to trading, you will never be 100% winning in the markets.
The only edge that you have when it comes to trading is identifying trend accumulation, distribution and risk management following an overall trend. If you apply S&R to a 5 min chart vs 1 week chart, which ones levels do you think will play a more valid role in the markets? The weekly will 100%! You better be a trained professional and have a good track record of experience if you think you're just going to show up to work everyday and try to scalp every single little move sitting in front of the monitor 24/7. I personally 100% believe the big picture is where it all counts. I believe the proper way to trade the markets is to use it as an investment vehicle to work for you over time. This is why on most of my charts you will see I'm a fan favorite of the daily chart and up. These timeframes are critical to identifying the major trends in the markets. You will be chasing your tail more than anything in a 5 minute timeframe and most likely realize why trading has such a high failure rate. Let the trade come to you!
If you can learn how to manage risk and not let a bad trade get away from you, then you are already one major step ahead of the pack of failing retail traders. You see... this understanding to cut loss quick is more important than anything you will ever learn from the markets.
The mentality of most retail traders is the famous "I want to get rich fast" mentality. When a trade goes against them, most have a tendency to hold onto that position with hope's to recover... this is how most blow their accounts. A lot of traders with this mentality tend to think they need to borrow money that they don't have from their broker, as if having more working capital will get them richer faster. If you can't trade with $25 in your account, chances are you probably don't need to use $25,000 to trade with. Most traders learn to become impatient with the market and use the lowest of timeframes where most of the noise in the markets occurs.
Are their success stories of traders that made it as daytraders? ABSOLUTELY!
I'm sure they went through years of training and learned to correct their failures. You can't let the markets beat you up if it goes against you and call it quits. You have to stay consistent and let every failure become a valuable learning lesson. It's going to take time, this is one of the hardest jobs on the planet if you choose to make it hard.
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So what do I look for? Like I said above I focus on trend trading from a technical analysis stand point. Observe the candles on the chart above. Green is buy pressure and red is sell pressure. Big bricks stronger pressure and compression doji bricks are weakened pressure. My goal at the end of the day is to look for the trend transitions at points of exhaustion. Notice how at the bottom of the crash the bricks began to compress to form a doji that shifted green, That's my transition. Look below and see the ema dots then also shot green and the custom rsi left oversold territory. That is your opportunity. You will manage your risk at these turning points. If you take a small hit and get stopped out, oh well. You managed risk and didnt let a trade get away from you. You can't control the market, you can only walk with it and not let your ego get in the way of trading.
Now you see that we have tight compression forming up top of this major trend reversal from the bottom. Ema dots going red and the custom rsi is shifting down from overbought territory. These are the ideal times I look to trade. If I drop down to a daily I see that we have a valid Resistance level as price rejects off of it based off previous level. Will this Resistance hold strong to selloff? Who knows! The market makers will create the next move, not you. You have to play both sides when the time occurs. That Resistance is my edge.
Price goes up and price goes down. In order for the price to go up or to go down it needs to transition in a sideways manner to accumulate or distribute in any market. My best chance of trading is finding these major potential reversal points, especially ones like this with such a tight compression and managing my risk. I will risk a small amount on a stop and diversify my portfolio. The market will not trend sideways and flatline forever. All you need to do is find these trend reversals, manage tight risk in anticipation to capture the next major trend.
*This material is for educational purposes only
GOLD TRADING PATTERN 2006 TO 2020 ANALYSIS - LEARN SETUP As we discussed earlier, The pandemic vaccine is expected to reach in 2021 so it will achieve it before the vaccine, second corona vawe is affecting world economic hopes again, China-US trade and political tensions are escalating with US elections. Us pandemic situation is not under control.
Free Trading plan GOLD SILVER Ratio Selling Calls & PutsFollow the plan: Today the Ration id DOWNTREND and Prices are UP. So buy Silver (see below).
No Options trades as BB width is "narrow"... so sit and hold. Use 1 or 4hr and Daily Charts for true trends.
GOLD-SILVER RATIO TREND GOLD AND SILVER TREND SIGNAL
Gold-Silver Ratio Uptrend Gold and silver in Uptrend Buy Gold
Gold-Silver Ratio Uptrend Gold and Silver in Downtrend Sell Silver
Gold-Silver Ratio Downtrend Gold and Silver in Uptrend Buy Silver
Gold-Silver Ratio Downtrend Gold and Silver in Downtrend Sell Gold
Options Arbitrage vs. Spot Pricing delays-
Gold will move first. Then Gold Miners then Silver. You can't be "too late" to a major move in the precious metals.
Watch for major events and Currency changes/announcements. Also Triple or Quad "Witching Days" can make sell moves on
precious metals as trades need cash to cover margin calls.
Never sell options when Bollinger Bands are 'narrow'. Just sit... MACD and MA can show trends and Peaks. See Charts.
When BB width is "Wide" and Price is "Up" then sell CALLS.
When BB width is "Wide" and Price is "Down" then sell PUTS.
Physical ETF's- I don't feel SLV and GLD can actually "deliver" physical bars to paper holders... Caveat emptor.
XAGUSD
SIVR
SLVO
XAUUSD
OUNZ
GLDI
IAU
GLDM
SGOL
BAR
AAAU
Gold - Trade setups to avoidWe have been posting potential bullish trading signals on Gold and the ways in which to enter this trending market of late, as the probability for these has been very high.
Now, the market doesn't trend in a straight line, so when we saw the price in Gold make its way to the $1900.00 level we looked to see if we could get any confirmation selling signals for a potential profit taking opportunity.
Its easy for anyone to show profitable trades but we believe that showing examples of why you wouldn't take a trade or what to look for to avoid a potential losing trade is just as important.
As you can see from the 15 Minute chart, price started to form a bearish selling 3 drive pattern at the highs just above the 1900 level. When we saw the 3rd and final drive high reject a little lower this sparked our interest.
With any price pattern we look to trade we don't want to enter right at the 3rd drive because we have no proof that price will stop there and do what you want it to do. Instead we drew a lower trend line in the hope that price could continue lower and break this to the downside. Until this happens, we are sitting on the fence and staying away.
What happened in the end was that the momentum in Gold was still very strong and price actually used the higher 3 drive trend line to retest this on the topside to propel price higher.
No break of the lower trend line, no trade. Sometimes its better to walk away and live to trade another day then to let ego get the better of you.
Gold Ways to enter a trend with higher probability and accuracyWe recently posted about Gold and how to execute with better entries off of using price structure and patterns.
The last comment we made is that we would be keeping a close look at Gold for any pullbacks that could show good price structure for potential buying signals inline with the current underlying bullish trend.
We have zoomed into the 15 Minute chart to give you more detail in the price action that you cannot always get on the higher time frames. As you can see from the chart the pull backs have not been deep, but good enough that we have clearly seen two bullish price patterns complete at the lows of each pullback.
Both of these patterns were 3 drive bullish patterns where on the 3rd drive lower, price began to trade higher thus completing the potential patterns.
Just seeing these patterns alone, even when inline with the current underlying direction is not enough, so to help us in our execution we look to find a higher inner trend line in the hope that this too will break to the upside which can help strengthen the pattern while also pin pointing an exact entry level on the retest on the top of the trend line.
Risk management - For these trades it's made easier to know where to place a stop loss because we are trading the pattern so placing it just below the 3rd and final drive is all we need to do which allows for a pretty tight protection level. On the upside, because we are in a strong trend we would look to scale out profits along the way while also looking to trail your stop loss as price moves higher.
GOLD buy trade setup using price action, how far can it go???It has been said ever since people were allowed to trade to "trade with the trend" and "the trend is your friend". Although there is logic to this the market unfortunately doesn't always trend and in fact spends most of its time in ranges and channels.
The market environment changes all the time and it's why so many traders struggle with their trading because they do not understand what market environment they're currently in. Price action traders can have an advantage in this regard because they want to see the structure that the price action has laid out as the leading indicator of where price could potentially go next.
As you can see from the 15 Minute chart on Gold, it has been in roughly a $22.00 range for around the last 2 weeks. Although it has been in a longer term uptrend in general, using ranges can help you a lot to work out a higher potential level to enter, while also managing your downside risk.
What we can see is a bullish head & shoulders pattern complete right at the lows of the range which can be seen on the higher time frames, why we like the position of this specific price pattern is because, not only is it pointing to the right side of the larger trend direction which can enable you to jump in on the move. You also get a location that if you are wrong then your stop loss can be placed just below the pattern which also would also lie under the range floor so you can manage smaller risk on this trade.
If you missed this setup then by being patient, price ends up showing you another opportunity with the same bullish head & shoulder pattern that completes just after the initial drive higher from the lows.
When trading any price pattern you should always wait for it to complete first without jumping in too early, but it's the higher inner trend line that we like to use (in the case of a bullish pattern) as our entry point as this can help show more strength in the pattern while also precisely showing you where to enter on the top side retest marked with green arrows.
Even if price doesn't continue in the longer term trend, you can initially target the top of the range and potentially scale out a percentage of your trade to lock in some profits.
We will be keeping a close eye on Gold and watch for any pullbacks that can allow for another bullish price pattern to form potentially indicating another opportunity for a manageable trade.