Gold structural retest post CHoCh
Gold broke structure last week under 2393 and now underwent a structural retest in last 8 hours of Friday. With the second last H4 as a shooting and last H4 as hanging man on some other brokerages, we are confident that correction is finally over that started form 2353.
This correction eventually concluded with a broken structural retest which shall now be treated as a supply reference. The liquidity they left when they suddenly broke the structure has now been collected and now we should expect a down.
Note: This idea is valid as long as gold stays under 2412! However, for now, we will consider 2394 as our stop loss if we are to enter on upcoming Monday.
The prospective targets area is shown on the chart however, we might see some correction back to 235x after the price hits the range 233x. So be advised in advance and do not be alarmed.
Best of luck and happy trading. Ensure proper risk management, Cheers!
This correction eventually concluded with a broken structural retest which shall now be treated as a supply reference. The liquidity they left when they suddenly broke the structure has now been collected and now we should expect a down.
Note: This idea is valid as long as gold stays under 2412! However, for now, we will consider 2394 as our stop loss if we are to enter on upcoming Monday.
The prospective targets area is shown on the chart however, we might see some correction back to 235x after the price hits the range 233x. So be advised in advance and do not be alarmed.
Best of luck and happy trading. Ensure proper risk management, Cheers!
Transaction en cours
Trade fermée: ordre d’arrêt atteint
Ohhh that didnt age well
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.