Gold: Bullish Signal in Daily Chart
The price reached the profit target. I wrote about that buying opportunity at 1900$ in this post.
What's next?
If we look at the daily chart, we will see a breakout above the downtrend line. It gives us a solid bullish signal in the direction of the main uptrend. It means we have a new buying opportunity based on the daily timeframe. Stop orders should be placed below the local swing low. Profit targets are 2000$ and 2075$ resistance.
It is a good idea to use the hourly timeframes for searching for exact buying opportunities. It will give a better risk-reward ratio and we will have an opportunity to pick solid trading setups.
Risk per trade for all trade must be no more than 1-2% of the trading capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What's next?
If we look at the daily chart, we will see a breakout above the downtrend line. It gives us a solid bullish signal in the direction of the main uptrend. It means we have a new buying opportunity based on the daily timeframe. Stop orders should be placed below the local swing low. Profit targets are 2000$ and 2075$ resistance.
It is a good idea to use the hourly timeframes for searching for exact buying opportunities. It will give a better risk-reward ratio and we will have an opportunity to pick solid trading setups.
Risk per trade for all trade must be no more than 1-2% of the trading capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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