gold is in bearish trend.
Broke its support.
LLLH
Bearish engulfer candle in weekly time frame.
3 hr:MA 200 is just above the candle and getting respected as the previous day is near.
MA 21 is being respected with bearish candle in 30 min.
Currently at the retracement and marked my previous day high and low which is the crucial support and resistance part.
Bullish indications:
Hammer candle in 4 hr time frame.
1 hr : i can see bullish divergence
forming inverted head and shoulder but not formed completely and it will mostly fail due to bearish trend.
Trade plan bias short @ 2856
SL:2868.5
TP1:2843
TP2:2833
Broke its support.
LLLH
Bearish engulfer candle in weekly time frame.
3 hr:MA 200 is just above the candle and getting respected as the previous day is near.
MA 21 is being respected with bearish candle in 30 min.
Currently at the retracement and marked my previous day high and low which is the crucial support and resistance part.
Bullish indications:
Hammer candle in 4 hr time frame.
1 hr : i can see bullish divergence
forming inverted head and shoulder but not formed completely and it will mostly fail due to bearish trend.
Trade plan bias short @ 2856
SL:2868.5
TP1:2843
TP2:2833
Trade closed: target reached
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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.