Gold weekly chart with Buy and sell levels.
Gold traded bearish for the month end.
Indicators on the monthly chart
For a sell entry ill look at entering at 2638 expecting 2630,2622 and 2610 follow it down until we see high first support at 2591, continue on monitoring all the levels marked.
For a buy ill look at entering at 2664 expecting 2671,2677, 2684 and 2700.
As always trade safe use a trailing stop and a stop loss.
Use good risk management .
Gold traded bearish for the month end.
Indicators on the monthly chart
- Stochastic is at extremes and when you see this we normally follow for a correction.
- RSI showing overbought
- MacD at extremely high levels and convergance meaning a fall.
For a sell entry ill look at entering at 2638 expecting 2630,2622 and 2610 follow it down until we see high first support at 2591, continue on monitoring all the levels marked.
For a buy ill look at entering at 2664 expecting 2671,2677, 2684 and 2700.
As always trade safe use a trailing stop and a stop loss.
Use good risk management .
Note
sell running Trade closed: target reached
250 pips on the sell closing out new chart Sunday
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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.