Hello and welcome back traders🙂, Gold is currently trading in a descending wedge pattern creating lower highs and lower lows. Once it breaks this pattern we can look for an entry.
A good entry point on a long trade would be to wait for the breakout of the descending wedge pattern that gold is currently forming, . To have a safer entry point you should wait for the retest and see how the market reacts , this is to ensure a better chance at identify a false breakout which is common place in the Gold market.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.
A good entry point on a long trade would be to wait for the breakout of the descending wedge pattern that gold is currently forming, . To have a safer entry point you should wait for the retest and see how the market reacts , this is to ensure a better chance at identify a false breakout which is common place in the Gold market.
Good luck trader's and may this week be profitable for you all. 🙂
If you found value in my analysis dont forget to hit the like, it's much appreciated.