Gold weekly forecast with both buy and sell entries.
Friday Gold sold off from 2334 all the way to 2300 for a drop of 334 pips before retracing up to where we are now at 3024.
What can we expect for the coming week ?.
My plan is as follows.
For a buy I would look at entering at 3032 expecting first resistance (marked in red on chart ) to be 3038 to 3040 area.
If we break these then next target would be 3048 to 3052 (200 pip from entry) this is high resistance level , if gold continues to be bullish expect 3078 to be the next area.
For a sell I would enter at 3018 expecting 3010 to 3008 as first support, next level is 3000 to 2998 and if broken we can expect gold to fall to 2880 and 2840 levels.
As always wait for levels, take profit along the way and don't over leverage .
Ill update this as the week goes on.
Check out my other trade idea for a gold swing trade below.
Trade safe
Friday Gold sold off from 2334 all the way to 2300 for a drop of 334 pips before retracing up to where we are now at 3024.
What can we expect for the coming week ?.
My plan is as follows.
For a buy I would look at entering at 3032 expecting first resistance (marked in red on chart ) to be 3038 to 3040 area.
If we break these then next target would be 3048 to 3052 (200 pip from entry) this is high resistance level , if gold continues to be bullish expect 3078 to be the next area.
For a sell I would enter at 3018 expecting 3010 to 3008 as first support, next level is 3000 to 2998 and if broken we can expect gold to fall to 2880 and 2840 levels.
As always wait for levels, take profit along the way and don't over leverage .
Ill update this as the week goes on.
Check out my other trade idea for a gold swing trade below.
Trade safe
Trade active
Running 156 pips from the sell at 3018
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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.
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.