GOLD ANALYSIS (15YO TRADER)
WEEKLY- I set my timeframe to weekly so that I can set my area of support and resistance. and also to see what is the current market stage is and it is currently in its Distribution stage.
Daily- I set my Timeframe to daily so that I can start predicting what will or where will the market go. And based on my analysis the market is in its resistance and also on a downtrend. I can say that it continues and push lower.
4h- I set my timeframe to daily so that I can confirm my analysis on a daily timeframe, and it formed a descending triangle that indicates a high seller pressure. The triangle is formed just above its resistance and it might break soon.
I will put my short position after the market pushes lower and go back below its resistance. I will put my SL just a little bit higher so that I won't be stoped.
(not a Professional)
Daily- I set my Timeframe to daily so that I can start predicting what will or where will the market go. And based on my analysis the market is in its resistance and also on a downtrend. I can say that it continues and push lower.
4h- I set my timeframe to daily so that I can confirm my analysis on a daily timeframe, and it formed a descending triangle that indicates a high seller pressure. The triangle is formed just above its resistance and it might break soon.
I will put my short position after the market pushes lower and go back below its resistance. I will put my SL just a little bit higher so that I won't be stoped.
(not a Professional)
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