Trade Idea on Gold by ThinkingAntsOk
With this post we are not saying, "The price will start a bearish movement" What we want to express here is:
IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way.
Main items we can see on the Daily Chart:
a)The price is on an ascending channel
b)Currently against the higher zone of the channel
c)On the Same zone, we can see a Huge Resistance zone, that worked 3 times on the past
d)We don't know yet if the price is going to break the level and start a new bullish movement or if the price will re-enter again on the range
e)IF the price re-enter on the range, we will wait for the breakout of the ascending trendline + corrective Structure
f)IF that happens, we will develop short setups towards the next Support zone.
IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way.
Main items we can see on the Daily Chart:
a)The price is on an ascending channel
b)Currently against the higher zone of the channel
c)On the Same zone, we can see a Huge Resistance zone, that worked 3 times on the past
d)We don't know yet if the price is going to break the level and start a new bullish movement or if the price will re-enter again on the range
e)IF the price re-enter on the range, we will wait for the breakout of the ascending trendline + corrective Structure
f)IF that happens, we will develop short setups towards the next Support zone.
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