Trading Gold and Oil. As you know, I typically trade these products on a longer-term perspective due to their volatility compared to the FX market.
Recently, I have noticed a Bullish Shark Pattern confirmation on gold, which presents two potential approaches.
Option 1 would be to engage the trade immediately if there is a retest at $1,819.37. This is because the Shark Pattern has completed, and a retest could be an excellent opportunity to enter the market.
Option 2 would be to wait for a retest on the support level of the 1hourly chart at $1,814.97, as long as the market doesn't close below $1,810.12.
Alternatively, if you are interested in shorting opportunities, the sell zone on the 4-hourly chart could be an opportunity for you.
Which option do you think would be the best approach?
Recently, I have noticed a Bullish Shark Pattern confirmation on gold, which presents two potential approaches.
Option 1 would be to engage the trade immediately if there is a retest at $1,819.37. This is because the Shark Pattern has completed, and a retest could be an excellent opportunity to enter the market.
Option 2 would be to wait for a retest on the support level of the 1hourly chart at $1,814.97, as long as the market doesn't close below $1,810.12.
Alternatively, if you are interested in shorting opportunities, the sell zone on the 4-hourly chart could be an opportunity for you.
Which option do you think would be the best approach?
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.