Gold: May 04 review (Intraday and weekly strategy for Gold )
Technical review:
The next area for attention is below $1676.40 range (Near S1-Friday's low) and keeps down trend till $1666.20 range (major support level).
On the other side, I am looking at $1721.80(Near term R1), and if break above R1, Gold prices will rose max. $1737.00(Near term R2 - Thursday's high) but major resistance level $1788.80 range(all time high-major resistance level).
For intraday trading point of view, short Gold and Silver prices at every high level.
Intraday strategy for Gold is given below.
Entry point - $1709.20 - $1712.50 range
And keep R1 $1721.80
And wait S1 $1676.40
And wait S2 $1666.20
And wait S3 $1620.00
Technical review:
The next area for attention is below $1676.40 range (Near S1-Friday's low) and keeps down trend till $1666.20 range (major support level).
On the other side, I am looking at $1721.80(Near term R1), and if break above R1, Gold prices will rose max. $1737.00(Near term R2 - Thursday's high) but major resistance level $1788.80 range(all time high-major resistance level).
For intraday trading point of view, short Gold and Silver prices at every high level.
Intraday strategy for Gold is given below.
Entry point - $1709.20 - $1712.50 range
And keep R1 $1721.80
And wait S1 $1676.40
And wait S2 $1666.20
And wait S3 $1620.00
Trade active
KEEP R1 $1737.00(NEAR TERM R2) AND AGAIN SHORT GOLD AT $1725.00 RANGE AND WAIT NEW LOW IN GOLD FEW HOURS(BEFORE US OPEN)....
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.