GOLD Short-Term Setup!

2021년 1월 3일

Hello everyone, if you like the idea, do not forget to support with a like and follow.

on DAILY: GOLD is sitting around strong resistance 1900 in blue and brown trendline so we will be looking for sell setups on lower timeframes.

on H4: GOLD formed a wedge pattern in red so now on H4 and we are waiting for the long-term sell to be activated.

Meanwhile, since GOLD is sitting around the 1900 round number and until the H4 setup is activated, we will be looking for short-term sell setups.

on H1: We are waiting for a new swing to form around our red trendline to consider it our short-term trigger and sell on its break downward.

Trigger: Waiting for a momentum candle close below the gray area to sell.

and until the sell is activated, this one would be overall bullish and can still dive inside the blue zone.

we will be looking for sell setups, unless price breaks aggressively above 1900, then the momentum will be shifted from bearish to bullish.

As price approaches our lower green support, we will be looking for buy setups.

Good luck!