Couple of View Points technically
Weekly - After a successful 8 weeks of positive return, Gold last week came down from the top and broke its previous weeks low level and went down by 2.66% which signifies there is selling seen on the top side. Apart form that whenever gold corrects prom the top it comes down to 10 WEMA which is 3% down or 20 WEMA which is 5% down.
Daily - If you look at the support line which has been drown from the top gold has been seen falling from the levels and if you also look at the candles which also there has been indecision in the market.
2 Hours - If you look at last couple of days for gold in 2 hours time frame whenever prices go up there is a massive red candle bringing price back down.
So as per me gold prices should fall down.
Current Market Price : 2905 USD
Stop Loss : 2935 USD
Target 1 : 2830 (Risk Reward : 1:2.5)
Target 2 : 2780 (Risk Reward : 1:4)
Weekly - After a successful 8 weeks of positive return, Gold last week came down from the top and broke its previous weeks low level and went down by 2.66% which signifies there is selling seen on the top side. Apart form that whenever gold corrects prom the top it comes down to 10 WEMA which is 3% down or 20 WEMA which is 5% down.
Daily - If you look at the support line which has been drown from the top gold has been seen falling from the levels and if you also look at the candles which also there has been indecision in the market.
2 Hours - If you look at last couple of days for gold in 2 hours time frame whenever prices go up there is a massive red candle bringing price back down.
So as per me gold prices should fall down.
Current Market Price : 2905 USD
Stop Loss : 2935 USD
Target 1 : 2830 (Risk Reward : 1:2.5)
Target 2 : 2780 (Risk Reward : 1:4)
Trade closed: stop reached
Trade didn't go as per plan
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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.