Hello traders,
Today we are going to have a look at gold for potential trades,
On the daily time frame we are in a down trend making lower lows and lower highs on the pullbacks.
There is a well known H&S pattern that has formed on the 1hr timeframe at the top of the last pullback. it has come back for a retest of the neckline and seems to be rejecting it.
We also have divergence on the charts add confluence to this trade.
Wait for it to enter the zone again and reject, two rejections plus confluences makes it a great trade and there is no reason why I wouldn't enter.
like and follow for more trade ides**
#getonboard #Thetradingguy
Today we are going to have a look at gold for potential trades,
On the daily time frame we are in a down trend making lower lows and lower highs on the pullbacks.
There is a well known H&S pattern that has formed on the 1hr timeframe at the top of the last pullback. it has come back for a retest of the neckline and seems to be rejecting it.
We also have divergence on the charts add confluence to this trade.
Wait for it to enter the zone again and reject, two rejections plus confluences makes it a great trade and there is no reason why I wouldn't enter.
like and follow for more trade ides**
#getonboard #Thetradingguy