TECHNICAL ANALYSIS : GOLD CHANNEL LOW

It is evident that the price is currently trending within a specific channel and is approaching the lower boundary of this channel. Anticipating a response within this critical area, it is likely that the price will resume an upward trajectory. However, an exact take profit target has yet to be established and will be determined once a price reaction occurs.

Furthermore, on the 4-hour timeframe, certain oscillators are indicating the potential for a bullish movement in the near future. It is preferable to wait for a further decline in price to secure an entry point, ideally within the lower boundary of the channel. Nevertheless, even if there is a temporary pullback into the channel prior to this entry, it remains advisable to consider another upward push towards the lower boundary of the channel to explore buying opportunities.

Based on price action alone I see no reason to assume price will not continue down on the 4H into our zone

Commentaire:

Currently experiencing some pullback but I am still short term bearish and I expect a reaction off these levels

Transaction en cours:

Executing a short into the main buys below

Transaction en cours:

We are almost at target. Move stops to break even at this point
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Ordre annulé:

Trade hit BE

Commentaire:

This markup is still valid and I still except price to push into the buy area