GOLD DAILY 09/06/2018
Updated
Prices are moving up and still in the channel, the price is at the first daily resistance, 200 MA on TF 1H chart is in the second daily resistance area, if price continues three drives pattern then there is a good chance it will turn down at the second daily resistance, invalid if price breaks up out of the channel.
Daily Pivot:
R4 1218.20
R3 1210.50
R2 1202.80
R1 1199.50
Pivot 1195.10
S1 1191.80
S2 1187.40
S3 1179.70
S4 1172.00
Option:
-Open short positions if price does not break the channel or break the second daily resistance
-TP1 on daily pivots
-TP2 at the first daily support (S1)
-SL can be placed at the second daily resistance or previous swing high
-Wait for confirmation to open a position
Daily Pivot:
R4 1218.20
R3 1210.50
R2 1202.80
R1 1199.50
Pivot 1195.10
S1 1191.80
S2 1187.40
S3 1179.70
S4 1172.00
Option:
-Open short positions if price does not break the channel or break the second daily resistance
-TP1 on daily pivots
-TP2 at the first daily support (S1)
-SL can be placed at the second daily resistance or previous swing high
-Wait for confirmation to open a position
Note
divergence appears there is a chance the price reversesTrade closed: target reached
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