After breaking out on both sides of value zone gold tested its support and resistance at 1825 and 1848. Again gold is back to its value zone between 1830 and 1845.As of now the 1832 is acting as support in terms of value zone lower boundary and trend line passing below. We can also see that gold made a breakout from the descending wedge formed by the white trend lines (Base at 1808) So we may expect bullish trend. Moreover the 20/50/100/200 EMA are above the present price. So they also suggest to BUY at dip. The monthly and weekly support is at 1814-1818. So the present price is in good buy zone.
As of now gold is consolidating with a sideway movement. So see for scalping trades in buying.
Today US session has some med impact news and high impact Fed speech. So be prepared to trade safely in US session.
My trading idea for long term
BUY 1808-1818 SL 1800 TP 1848
As of now gold is consolidating with a sideway movement. So see for scalping trades in buying.
Today US session has some med impact news and high impact Fed speech. So be prepared to trade safely in US session.
My trading idea for long term
BUY 1808-1818 SL 1800 TP 1848
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.
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.