hey guys,
a lot of questions about gold!
for now, I don't have any active trading position.
just recently the price reached a key daily support level.
what I like about that structure is that it matches perfectly with intraday structure and 382 retracement of the last impulse.
on focus now is 1H chart,
classic double bottom formation there.
I will buy the bullish breakout of 1740 minor structure resistance (1H candle close above) with targets: 1748.5/1758!
remember that this double bottom pattern can easily turn to the indecision range.
being broken to the downside, out setup will be invalid,
but I would not short, because too much structure lower!)
good luck!
Trade closed: target reached
New Analysis on SILVER:
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.