Short
GOLD PLAN: Who will stay at the top?
The weekly price frame has reached the Resistance area, which is also the peak and the lowest low.
But overall the price is still in a downtrend. An immediate breakout is not possible, so a consolidation at a value area is required. If you wanna BUY, from here, you'll need to see the DOW creation condition increase > Higher high, lower high and close the candle above the resistance at 1810
--
Now you can see people want to deposit money in the bank for interest so the demand is not high. They need more money with lower gold prices then, I need to see people depositing and withdrawing money to buy gold or assets. That's when I will buy gold.
---
Plan trading: Sell GOLD [1806 - 1798]
Target: #168x #158x
Absolute Stop Loss: 1814
Manager Risk
But overall the price is still in a downtrend. An immediate breakout is not possible, so a consolidation at a value area is required. If you wanna BUY, from here, you'll need to see the DOW creation condition increase > Higher high, lower high and close the candle above the resistance at 1810
--
Now you can see people want to deposit money in the bank for interest so the demand is not high. They need more money with lower gold prices then, I need to see people depositing and withdrawing money to buy gold or assets. That's when I will buy gold.
---
Plan trading: Sell GOLD [1806 - 1798]
Target: #168x #158x
Absolute Stop Loss: 1814
Manager Risk
Note
Today NONFARM very risk, it will try to hit your Stoploss. Safe entry from 1803 - 1810
Stoploss zone 1814 - 1821
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.
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.