After a series of bearish structures on 4Hour time frame, which is actually a bullish retracement on higher time frame, Gold has now broke the bearish structure with series of bullish candles which turned the trend from bearish to bullish trend.
After the bullish break of structure, Gold retrace into a fair value price level, formed a swing low plus a bullish price action which further confirmed the bullishness of Gold, which is were I took an entry for a buy long trade.
My target for this trade is for Gold to reach the price level of $3,436 which is a 5.36RR return.
I will be monitoring price and manage my trade accordingly as price move in my direction.
After the bullish break of structure, Gold retrace into a fair value price level, formed a swing low plus a bullish price action which further confirmed the bullishness of Gold, which is were I took an entry for a buy long trade.
My target for this trade is for Gold to reach the price level of $3,436 which is a 5.36RR return.
I will be monitoring price and manage my trade accordingly as price move in my direction.
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Related publications
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.