I will try to monitor and post in comments section every day my view on gold. And call some trades for future if I see them. I will use for this just candlestick analysis and daily weekly monthly swing highs lows as well as some trend lines to prove for my self one more time how important those pivots are in trading no matter you long term trader medium term or inraday. Hope somebody will find some ideas what can by used in own trading system.
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Monthly chart is used just for main pivots what not seen on lower time frame charts and a very often forgotten here is daily chart what start to look more friendly
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Time to time I will post and 1h 4h and 15min charts because on them we can see more detailed action like this
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Daily needs one more candle. Conditions very good for a consolidation start here hope we can hold highs and see some good shorting opportunity but before that still long
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Another daily update finally gold start range ! Will it last we will see very soon hunt for short entry on false brake if any or long if brakes and holds range top
Commentaire:
So market brakes higher now slowly going down to retest breakout level . Daily candle bullish with high at 1375. Last time those prices on gold was seen 2 years and 4 months ago. Caution bullish candle not very healthy close not strong have a wick this is why on daily I mark it low very inportant point and provides low risk long oportunity with extreme small SL.
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4h chart still no signal to short just try not to go long above 1358 for now
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Looks like gold finally print double top and momentum changed for downside keep in mind that this may be just pullback and look for bulls activity at lower prices
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and posting +4h chart of gold basically same just more details to see how gold brake daily low