In the higher timeframes (monthly), we GC is bearish.
Going down to the weekly, GC has been bearish despite prices being in a retracement phase of the trend.
In the daily time frame prices project a clear uptrend, but following up the higher timeframes we understand it is a retracement.
Still in the daily we were able to trace a significant psychological level where based on how price is reacting we believe to be the end of the retracement and the continuation of the trend but as the saying goes, we should be reactive and not predictive when it comes to the financial markets.
We are risking 15 pips in this trade aiming for a potential 1:15+.
DISCLAIMER: This is not a financial advice always trade with caution in consideration of risk management.
Going down to the weekly, GC has been bearish despite prices being in a retracement phase of the trend.
In the daily time frame prices project a clear uptrend, but following up the higher timeframes we understand it is a retracement.
Still in the daily we were able to trace a significant psychological level where based on how price is reacting we believe to be the end of the retracement and the continuation of the trend but as the saying goes, we should be reactive and not predictive when it comes to the financial markets.
We are risking 15 pips in this trade aiming for a potential 1:15+.
DISCLAIMER: This is not a financial advice always trade with caution in consideration of risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.