Is this a bullish pennant or just a symmetrical triangle? Up or down?
Decision time for gold!
Indicators @ 1D TF:
Dissipation of bullish momentum on squeeze momentum indicator
Stoch RSI also does not look bullish anymore.
Indicators @ H4 TF:
Bullish momentum on squeeze momentum indicator
MACD bullish crossover
Stoch RSI = bullish
Wave trend oscillator = bullish
Bullish target of bullish pennant ~ $1695
Beraish target#1 of Symmetrical triangle ~ $1500 (end of wave A)
Beraish target#2 of Symmetrical triangle ~ $1415 (end of wave C)
Note:
Squeeze momentum indicator @ 1W TF still looks very bullish.
Therefore, a breakout to the upside could be likely (bullish pennant scenario).
However, if bullish mometum is too weak the triangle could break to the downside.
For this reason I would recommend to take some profits at current price level to secure them.
Remaining gold position I suggest to sell at bullish pennant target.
I´m not a financial adviser. For educational purpose only!
Decision time for gold!
Indicators @ 1D TF:
Dissipation of bullish momentum on squeeze momentum indicator
Stoch RSI also does not look bullish anymore.
Indicators @ H4 TF:
Bullish momentum on squeeze momentum indicator
MACD bullish crossover
Stoch RSI = bullish
Wave trend oscillator = bullish
Bullish target of bullish pennant ~ $1695
Beraish target#1 of Symmetrical triangle ~ $1500 (end of wave A)
Beraish target#2 of Symmetrical triangle ~ $1415 (end of wave C)
Note:
Squeeze momentum indicator @ 1W TF still looks very bullish.
Therefore, a breakout to the upside could be likely (bullish pennant scenario).
However, if bullish mometum is too weak the triangle could break to the downside.
For this reason I would recommend to take some profits at current price level to secure them.
Remaining gold position I suggest to sell at bullish pennant target.
I´m not a financial adviser. For educational purpose only!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.