#Gold Breakout ? #Analysis of momentum and #Trend #PriceActions
Updated
Hii
This is my analysis on gold
first i used green monthly trend line if it breaks market will go down . if comes toward the mean of the line or say pullback in uptrend is consider .
and price touches red color resistance zone almost 6 times . if it breaks and retrace is consider as perfect breakout . so wait for breakout .
and i use Hikanashi to show u momentum . in candlestick it is not seen easly .
.sry i am late but i post same thing in mind chat
Thank u
This is my analysis on gold
first i used green monthly trend line if it breaks market will go down . if comes toward the mean of the line or say pullback in uptrend is consider .
and price touches red color resistance zone almost 6 times . if it breaks and retrace is consider as perfect breakout . so wait for breakout .
and i use Hikanashi to show u momentum . in candlestick it is not seen easly .
.sry i am late but i post same thing in mind chat
Thank u
Note
my private idea 💡 on gold https://in.tradingview.com/chart/GOLD/7z8rzaQS-Gold-trend-analysis/
Trade closed: target reached
we all know there is inverse relation bw gold and usd so during usd analysis i found usd has momentum turnig point i will explain in usd analysis . due this i am going to close the gold trade . most likely gold will go down .Note
hey i have updated this idea on 30 th jan gold long position to short plz read
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