Good Evening Forex Friends
In our morning analysis we discuss head and shoulder with alternate pattern.Gold bounce from the rising support and break the resistance of 1243 , Alternate works this time and gold hit our first target , second target is at 1263. 1253 level is also the resistance of symmetric triangle we have discuss that in our daily time frame analysis.We will wait for today closing to get better idea for gold next move.I am sharing 4 hour time update chart below.Please have a look.
4 Hour Update Chart
I am also sharing previous 4 hour chart for the reference of previous analysis.
Previous 4 Hour Chart
Note : Those who follow morning analysis should close half position at 1253-54 and move stop loss to entry point to enjoy risk free trade.
Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.
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Wish you good luck and happy trading
Mati Ur Rehman
Gold Analyst @ dailygoldanalysis.com