Important note on charts:
It’s imperative to your trading success, you are trading with a broker that offers “New York Close Forex Charts” where each daily candle opens and closes at 5 pm EST. This is essential with trading price action correctly.
Trade Setup Disclaimer:
All my trade setups provided, is not advice or a recommendation to trade or invest. It is solely for educational and general information only.
Don’t blindly buy or sell the Forex markets discussed in this trade setup. Do your own research and always be aware of the risks and rewards.
Potential Trade Setup: Gold tests broken structure from below a key level
All charts I provide are of the Daily time frame unless stated otherwise.
Gold
Trend: Now Bearish
Key Levels: Broken support 1284.60 area, with next major support at 1237 zone.
Price Action Signal: Has printed a bearish inside candle at a key reversal.
Chart Notes: Gold tests broken structure from below and has now printed a possible inside bearish candle.
With a bearish bias that remains intact, a sell further lower could be a high potential from this location.
Potential Trade Idea:
Sell at the current location, considering price to find support at the last Daily lows to mange the trade.
Targeting the 1237 area for a final target zone.