GOLD - Long entry on the 4 hours chart

I don't want to go into this before we get a daily signal for a long trade but I want to give a chance on the smaller time frame for a long entry.

The idea is simple : if the intermediate cycle bottomed last week Tuesday at 1266 $ than today's drop is just the back test of neck line.
If we close in the green the daily chart will also give us a signal for a long entry but if we do it here the entry point will be much better.

If we have a green daily candle again I will explain why I think Thursday's bottom is a long term bottom.
Stop goes to 1273.9

Commentaire:

It seems we entered the exact bottom yesterday .

Commentaire:

Before anyone would start to take profits on the street I would like to warn you that this might be the beginning of A multi month Rally.

Commentaire:

Street=trade

Commentaire:

If you are in a long position with to me I suggest you to wait for the daily update I’m going to post an idea based on the daily chart later today.

Commentaire:

The chance is high we are going to see gold prices above 1400 this year.

Commentaire:

A trend changing cup and handle evolving on the 8hrs chart

Commentaire:

Fed leaves rates unchanged.
The pattern is breaking out.fingers crossed. Hopefully Powell doesn’t talk it down.

Trade fermée: ordre d’arrêt atteint:

Our stop was hit yesterday.
It will be pretty hard to re-enter if it’s a double bottom with a short squeeze...

Commentaire: