Posted by johnny2012 on 17th of Sep 2020 at 02:09 pm
Hey guys. Just an idea of what could be happening in gold
futures. On the 4 hour time Frame could be in a right shoulder
formation of a head and shoulder with that double top as the head
and measures down to close to 1900. I play long and short so just
stay on your toes. Move down today doesn't look positive for
bulls. And the right shoulder could fail and go down from here or
move up a bit around 1965 and then fail if it's a h/s set up. Could
also pop and head to New highs though. If it does I reverse
position and take the momentum trade. Just an observation. Trade
your plan.
Posted by johnny2012 on 21st of Sep 2020 at 06:30 am
Update: right shoulder breaking down. Initial support around
1911 but measures to almost 1900. Below that as Steve/Matt
mentioned if we get a decisive downside break of the larger
triangle pattern
Posted by johnny2012 on 21st of Sep 2020 at 10:35 am
Update 2: met the measured move on the 4 hour chart I posted,
and then some. Looking for a reversion to mean bounce, maybe tag
the broken trend line and then be good for another short. I covered
my short
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Hey guys. Just an idea
Posted by johnny2012 on 17th of Sep 2020 at 02:09 pm
Hey guys. Just an idea of what could be happening in gold futures. On the 4 hour time Frame could be in a right shoulder formation of a head and shoulder with that double top as the head and measures down to close to 1900. I play long and short so just stay on your toes. Move down today doesn't look positive for bulls. And the right shoulder could fail and go down from here or move up a bit around 1965 and then fail if it's a h/s set up. Could also pop and head to New highs though. If it does I reverse position and take the momentum trade. Just an observation. Trade your plan.
Update: right shoulder breaking down.
Posted by johnny2012 on 21st of Sep 2020 at 06:30 am
Update: right shoulder breaking down. Initial support around 1911 but measures to almost 1900. Below that as Steve/Matt mentioned if we get a decisive downside break of the larger triangle pattern
Update 2: met the measured
Posted by johnny2012 on 21st of Sep 2020 at 10:35 am
Update 2: met the measured move on the 4 hour chart I posted, and then some. Looking for a reversion to mean bounce, maybe tag the broken trend line and then be good for another short. I covered my short