Hi guys..
So today we want to continue our sharing about analysis market. If you check back to our posting before this, gold market make a double bottom after make a double top.. Right?
So this is chart for the continues analysis..
When you see market like this, you can draw your channel line like what we do in this chart.
So, if you can see, after the strong rejection on the demand zone, price go up back. In this way, market show that he in sideway mood. What you can do when the market on sideway mood?
You can check the range between upper channel and lower channel. If the range suitable, you can trade using technique scalping. Or you can place your target pips@points.
Updated Chart…
This is Daily Chart. But the analysis we draw are from time frame H4. We look into rejection on demand zone. This is what will happen if price broke the channel on time frame H1
Based on our analysis, for the long term market still in bearish mood. But in mid term position, we still need to wait for the confirmation if gold can break the channel line. And for the short term, like we said before, you can trade using scalping technique between the channel.
Updated Chart…
In updated chart show that price still playing within the channel. So, you still can trade on that channel within 1500pips.
Right now market gold show 4 times trial to break the support zone. But all the testing unsuccessful because of the strong on that zoning.
Updated Chart…
Look at this chart. There are strong rejection on that yellow zone.
Look on the other chart.
Updated Chart…
It’s show that have long shadow touch the zone. And it second time test. So, in this situation show that gold still looking for the trend. This sideway are on rectangles chart pattern.
You can see the clear trend after the price break the channel or the rectangles.
How’s the analysis? You guys still can follow?
So, we stop our explanation analysis now.. Hope you guys can digest all our analysis. And we will continue our analysis in others posting okay..
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