#GOLDTime range specified;
Support and resistance are identified;
The price is fluctuating between the two pink ranges and can break if the green ranges break;
Be careful with the trend line and patterns.
Trade-gold
#GOLDTime limit is specified;
Support and resistance are specified;
The price is within the pattern;
Be careful about the candlestick
#GOLDTime limit is specified;
The price fluctuates between two pink ranges, and in the event of failure in either direction, the yellow range can be advanced;
The price is within the pattern;
USDAUD - SHORTsetup for a swing trade, on the weekly chart there was a new higher high created with a double top which confirmed my thoughts that it will be followed by the creation of a new lower low, this will be shown on the 1 hour chart, good luck traders!
- Pauric Finnegan
What to expect from Gold: Structure ZoneRecently saw a nice pullback into the structure zone (blue rectangle). RSI went overbought on first move. Got a potential double top in this area where also the 50 % retracement lines up.
Additional confirmation would be RSI divergence.
OR: There is a chance we see a new high into the 61.8 retracement at the top of the blue box, so be prepared for both cases.
Follow your plan
short minersI actually got shook out of my DUST position flat yesterday because I didn't have a trade plan set up. Too bad.
So here it is, pretty high risk trade as it stands if using GDX (long puts, never short shares without a long call to cover your butt, I'll write a book "Advanced Trading for Beginners")
Anyway, I think we have plenty of downside here, unless GOLD GL really want's that CUP and HANDLE pattern to play out.
