Gold closes below the daily pivot for today, and forms a lower low and lower high, the chance of a price increase will continue to move lower.
First Option:
-Open short positions below the first daily resistance ($ 1206.72 / oz) if the price rises above the pivot but cannot pass and hold above the first daily resistance.
-TP1 on the daily pivot ($ 1202.46 / oz)
-TP2 at the first daily support ($ 1196 / oz) if the price moves past the pivot.
-SL at a few points above the first daily resistance or on previous swing high.
-Wait for confirmation to open a position
Second Option:
-Open short positions below the daily pivot ($ 1202 / oz) if the price can't go above and stay above the daily pivot.
-TP1 at the first daily support ($ 1196 / oz)
-TP2 at the second daily support ($ 1191 / oz)
-Wait for confirmation to open a position
First Option:
-Open short positions below the first daily resistance ($ 1206.72 / oz) if the price rises above the pivot but cannot pass and hold above the first daily resistance.
-TP1 on the daily pivot ($ 1202.46 / oz)
-TP2 at the first daily support ($ 1196 / oz) if the price moves past the pivot.
-SL at a few points above the first daily resistance or on previous swing high.
-Wait for confirmation to open a position
Second Option:
-Open short positions below the daily pivot ($ 1202 / oz) if the price can't go above and stay above the daily pivot.
-TP1 at the first daily support ($ 1196 / oz)
-TP2 at the second daily support ($ 1191 / oz)
-Wait for confirmation to open a position
Trade closed: target reached
Related publications
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.
Related publications
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.