PINK is more unlikely

ที่อัปเดต:
Trend line trading appears simple with just lines drawing to touch various price points.

One can easily fall for the trap of making the assumption that once the price breaks down from the bullish trend line, they are going to sell down hard.

Remember to separate the forest from the trees. The trees are the 1H and 4H charts while the days and weekly charts are the forest. By focusing on the bigger direction, you know where you are headed over the longer term. The ups and downs inside the forest ; ie. crossing rivers and overcoming obstacles are part and parcel of crossing to the next mountain.

So, in this 4H chart, we can see that there is now support at 1671. It can potentially heads further south to 1633 before heading up again. In this aspect, if you are shorting, do remember to take your profits and adjust your SL.

Gold still remains as a safe haven hedging tool for many in times of uncertainty. Numerous questions like -

- would there be a next wave when the states start to re-open ?
- GDP , unemployment data is getting from bad to worse, what's next ?
- What if the cure comes much later and the death rates continue to rise ?
- Will my job be safe ? Will I still have my job, pay ,etc when I return to work ?
- If not, what can I do to pay for my obligations in life ?

Stay in Gold.
Chart PatternsTrend Analysis

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