An inverse head & shoulders is potentially forming on the hourly gold chart.
In this case, the IHS acts as a continuation pattern, as gold has been consolidating sideways for some time.
📊 Trade Plan:
Risk/Reward: 3.8
Entry: 3330.9
Stop Loss: 3320.8
Take Profit 1 (50%): 3361.5
Take Profit 2 (50%): 3379.3
💡 GTradingMethod Tip: Every moment in the market is unique. That’s why it’s crucial to predefine and accept your risk before entering a trade.
🙏 Thanks for checking out my post! Make sure to follow me to catch the next update. If you found this helpful, give it a like 👍 and share your thoughts 💬 — I’d love to hear what you think!
⚠️ Please note: This is not financial advice. This content is to track my trading journey and for educational purposes only.
In this case, the IHS acts as a continuation pattern, as gold has been consolidating sideways for some time.
📊 Trade Plan:
Risk/Reward: 3.8
Entry: 3330.9
Stop Loss: 3320.8
Take Profit 1 (50%): 3361.5
Take Profit 2 (50%): 3379.3
💡 GTradingMethod Tip: Every moment in the market is unique. That’s why it’s crucial to predefine and accept your risk before entering a trade.
🙏 Thanks for checking out my post! Make sure to follow me to catch the next update. If you found this helpful, give it a like 👍 and share your thoughts 💬 — I’d love to hear what you think!
⚠️ Please note: This is not financial advice. This content is to track my trading journey and for educational purposes only.
Trade active
Long position opened at 3328.19. Better entry than expected. Happy. Now lets wait patiently. This is the hardest part of trading for me.Trade closed: stop reached
BE trade. It was looking really good.
Is there possibly a inverse head and shoulders on the 4 hourly?
Busy planning for that now.
Note
Managed to get another entry on the H4 inverse head and shoulders. Lucky! Didn't have enough time to plan a post for TV.
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.