Gold Spot / U.S. DollarUpdated Gold Long/Short Scenarios Next 2 Weeks Day/Swing Trading
Chart Feedback(Daily Time Frame)
Gold King of the week with a new ATH. The last hours of the day take profits take place increasing the supply and ending with inverse hammer daily candle. Monday and Tuesday will indicate the weekly direction. I expect the price to continue to rise, but a correction is highly possible too.
Key Levels (4 Hour Time Frame)
On the down side:
-2780 (previous resistance now support)
-2730 LWL (last week low)
On the upper side:
-2817 (new ATH)
Trend Scenarios and Trade Ideas (1 and 4 hour time frame)
Long:
The main and sub-trend are in line I will be looking for buy signals until the sub-trend line is broken. The price has been obeying on Engulfing candles and U-Turns, targets 2840 and 2860.
Short:
I will be looking to sell only if the price goes below 2780 and makes a new LH, or as I like to call it CTR (cross, test, reject). I want to see the price crossing 2780 from above then come back to test the new resistance and reject. Target LWL(last week low) and 2700 level.
Thank you for reading
Have a profitable week
Any feedback is welcome
Gold King of the week with a new ATH. The last hours of the day take profits take place increasing the supply and ending with inverse hammer daily candle. Monday and Tuesday will indicate the weekly direction. I expect the price to continue to rise, but a correction is highly possible too.
Key Levels (4 Hour Time Frame)
On the down side:
-2780 (previous resistance now support)
-2730 LWL (last week low)
On the upper side:
-2817 (new ATH)
Trend Scenarios and Trade Ideas (1 and 4 hour time frame)
Long:
The main and sub-trend are in line I will be looking for buy signals until the sub-trend line is broken. The price has been obeying on Engulfing candles and U-Turns, targets 2840 and 2860.
Short:
I will be looking to sell only if the price goes below 2780 and makes a new LH, or as I like to call it CTR (cross, test, reject). I want to see the price crossing 2780 from above then come back to test the new resistance and reject. Target LWL(last week low) and 2700 level.
Thank you for reading
Have a profitable week
Any feedback is welcome
Trade active
King Gold continues it's run, every day is a new ATH. The price on Monday behaved exactly as planned, re-test the 2770-2780 zone( previous resistance, now support) and complete it's CTR process(Cross, Test, Reject). Since that moment i manage to do two long entries, one on Monday and one on Tuesday. Today I skipped as the price has been going straight up for a while, I wish to see some pull back before I look for another entry. 
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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.