Gold, Trading Plan for a week. Multiframe analysis.
In the Monthly, I'm expecting gold will reach to resistance 1800 and have a short deal in here. This deal which i will hold so long for 2-3 years, it can be the longest deal.
In the Weekly chart, After break out triangle pattern, gold has reached to the highest price in the last 8 years. The last week's candle closed with confused of market. So take a look at another timeframe to make a deal.
In the Daily chart, it seems gold has retest the support 1718-1722 that it break out, we will have a deal in this support, a long deal will be take in here. If it is going down through and closed lower than this support, the support will be the resistance and our deal has failed.
Buy limit: 1718-1722
Stoploss: 1710
Takeprofit1: 1752
Takeprofit2: 1800
This deal for swing trader. Remember to pull your stoploss back your entry when the market is right for your deal.
Price action and trendline.
Thanks for watching and dont forget to give me some comment and your opinion.
In the Weekly chart, After break out triangle pattern, gold has reached to the highest price in the last 8 years. The last week's candle closed with confused of market. So take a look at another timeframe to make a deal.
In the Daily chart, it seems gold has retest the support 1718-1722 that it break out, we will have a deal in this support, a long deal will be take in here. If it is going down through and closed lower than this support, the support will be the resistance and our deal has failed.
Buy limit: 1718-1722
Stoploss: 1710
Takeprofit1: 1752
Takeprofit2: 1800
This deal for swing trader. Remember to pull your stoploss back your entry when the market is right for your deal.
Price action and trendline.
Thanks for watching and dont forget to give me some comment and your opinion.
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