Gold is still under sales pression against a very strong US Dollar, what we see is a new trading range formed as predictet between 1680 and 1630, during Asia session Gold has touched the lower boarder of the box and has strongly bounce up as this is a demand area , now as nothingh is changed from last week i would favour shorting Gold on bounce to the neckline of the box around 1650 or at R1 at 1665 if it gets up there, i would try shorting just after rejection with a tight stop, but would not enter any long position at the moment , just keep shorting bounce up to resistance with confirmation or rejection; i do not see any relevant economic news today so will enter once we touched a good spot for shorting
Trade active
small short open here 10% positionTrade closed manually
trade closed with small profit waiting for a higher short entrance
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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.