Hi guys..
Can we continue our analysis here?
This is analysis on one hour chart. As you can see, price touch yellow line and still move within the channel that we drawn.
You can entry based on price movement in that channel. If you can get 100 pips per entry, just go on.
If you take a look back at our post before this in chart below, we targeted that price will retrace to the yellow zone that be our near support. And after 2 weeks, price touch that support.
Updated Chart…
In time frame H1, price already touch the upper channel with the strong candle. What will happen when you see the signal of breakout?
If you see candle break the upper channel with strong momentum in that candle, it means that price will go up higher. So, in this situation, you can entry buy and put your take profit based on your targeted. Or you also can check where the near resistance zone on that chart and close your entry there.
Updated Chart…
Look!! Gold fly until yellow zone that we drawn. That yellow zone is our resistance zoning.
Updated Chart…
What you can see in this chart?
If you can look, after gold break the upper channel line, normally price will go higher with the same range in that channel. So we drawn the line vertical in that channel, and we paste it in breakout zone. After that we get the target price where gold will go.
In that chart shown gold will go until the yellow zone. But, based on candlestick in 1 hour chart, gold look like want to retrace for the short period. Overall, mid term gold still in bullish mode.
It is amaze that gold fly about 1500 pips.. How much profit you can get if you entry after that breakout? Definitely you will smile all the day..
Updated Chart…
3 prices indicated in the chart are our predicting. For first price, gold touch it when he fly again before he make a retrace. Now, gold try testing for retracement at $1200. As you can see, $1200 is very powerful psychology number.
Udated Chart…
Look.. Price make a comeback again to $1200 line. We draw a new channel in this chart to check if price will go down until lower channel or not. Firstly you just monitor if price will break the $1200 line or make a bounce. If market strong, for sure he can break the support $1200 and go to the next support in lower channel.
However, you still need to wait for the confirmation again. In this situation, you can entry sell and put your target at $1200 line.
Okay guys. Thats all for today. We will continue our analysis on other posting okay.. Hope you guys enjoy read our analysis.
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