Learn Forex Trading with Easy Steps and Trade like Professionals, we will provide you the best Forex trading ideas on all currencies, Gold and other things which are traded in Forex today we will give you an idea about the Gold, we have drawn a chart pattern to trade on Gold.
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Here is a chart with the best analysis on Gold recently it has crossed the recently support line and it is going towards the resistance line.
So here is the chart you can clearly see the movement of the price. It is a daily time frame.
you can see on 14 June 2018 the price strongly fall from 1307.30 to 1160.11. It took nearly 7 months to reach our target which was 1160.11. Thus it was a great trade we made from the middle of 2018 to the start of 2019.
Currently, the price is 1290.62, there is a buy strong trade opportunity our target is short till 1306.71.
if we enter in the trade our SL will be 1276.63 and our profit target will be 1307.30.
it was a buy trade when the price reaches 1307.30, now it is ready for fall.
So here the chart setup for a sell trade. we will wait for the price to touch our resistance level and we will enter the trade when it is falling.
our SL will be above resistance level somewhere and out profit target will be down at 1233.11.
it is a long term trade it may take two, three or more than three months
The setup on lower time frames
If we look the chart pattern on lower time frames we can see the price movement clearly.
so here is the chart on hourly time frame we can clearly see that the price may come down for the pullback before going up.
we will wait until the price pullbacks and it is ready to go for buy then we will enter our trade.
we have made a chart pattern that says the price is moving in a triangle pattern
The price is moving sideways in a triangle it is on the 2-hour time frame.
we will wait until the price breaks the trend line then we will be sure about the movement of the price