Short

Lots of resistances ahead

Updated

Gold found support on the channel trendline and was able to push up to a high resistance area.
Above 1990 there is the weekly candle close resistance zone, below we find a dynamic resistance and also a Liquity resistance area.

I expect that the price will test the zone again and may be faced by selling pressure. But be aware. If the price closes above the dynamic trendline, we probably see further bullish movements tomorrow and next week.

My suggestion, scalp short from 1988 - 1993 are tomorrow (Friday, 17.11.). TP will be 1975, 1980 and 1985

Trade active

Gold reached the liquidity zone again. You can start short with small risk. TP 1980.

Note

Gold reacted at the weekly candle close level and is about to retest the dynamic resistance. Oberserve the price development today.

Trade closed: target reached

Target 1985 reached.

Note

1985 is now the key level to watch. If it breaks the other targets are open.
New orders can be placed around 1987-1990 with tight SL at the current top (1993).
Be aware, that the breakout above the dynamic resistance line is still possible.

Note

Pay attention to the strong support area around 1981 (precious candle close). If you haven't take all your profits so far, it's a good to at least go break even. Remember gold is in a strong uptrend currently.

Trade closed: target reached

Target 1980 reached.

Note

Gold found support in 1979 (rising trendline). There won't be big shorting opportunities today, as the 1881 level will the key area today (yesterdays candle close).

Thanks for following and hope you made some nice profits. Full movement: 130 Pips

Kyrean

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