Probable Scenario Analysis:
⏺ Present Scenario:
Presently, Gold
GOLD is in a hyper-contraction phase. There are two visible contraction chart patterns observable in the chart. The first pattern is a head-and-shoulder (H&S) pattern. The second pattern is a rising parallel channel. Technically, gold is flat and making too random moves. There is no trend confirmation yet.
🟢 Bullish Scenario
There is no bullish scenario. Doubt every upmove. However, if the price decisively sustains above 4425, then a bullish setup might emerge. The probable bullish target above 4425 would be - 4450.
🔴 Bearish Scenario
Gold has entered into the shorting zone. If we look at the rising parallel channel, we can see that the price is trading within the lower control limit (LCL) of the channel. It is a sign of weakness. Also, there is a probable formation of an H&S pattern. Stay bearish below 4400. The probable targets below 4400 would be - 4375, 4350, 4325, and 4300.
🟡 No Trading Zone: (4425 - 4400).
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
⏺ Present Scenario:
Presently, Gold
GOLD is in a hyper-contraction phase. There are two visible contraction chart patterns observable in the chart. The first pattern is a head-and-shoulder (H&S) pattern. The second pattern is a rising parallel channel. Technically, gold is flat and making too random moves. There is no trend confirmation yet. 🟢 Bullish Scenario
There is no bullish scenario. Doubt every upmove. However, if the price decisively sustains above 4425, then a bullish setup might emerge. The probable bullish target above 4425 would be - 4450.
🔴 Bearish Scenario
Gold has entered into the shorting zone. If we look at the rising parallel channel, we can see that the price is trading within the lower control limit (LCL) of the channel. It is a sign of weakness. Also, there is a probable formation of an H&S pattern. Stay bearish below 4400. The probable targets below 4400 would be - 4375, 4350, 4325, and 4300.
🟡 No Trading Zone: (4425 - 4400).
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.