XAU/USD Swing Trade Coming UP
Updated
Hi Everyone,
Gold has been under a lot of bearish pressure lately. Be cautious and trade with care! Yesterday Gold failed to cross 1931 to open up a trade to 1938 which would have been the EMA5 cross.
As of now the trend short term 20 SMA is bearish, medium term 50SMA bearish, 200SMA is Bullish but possibly weakening;
Long-Term Gold is still a buy with the expectation of turning around from bearish to bullish in the 1895 range. However be careful and lookout if it can lock under 1912, and if it does that will open up the swing trade.
Trade with care!!!!!!
Gold has been under a lot of bearish pressure lately. Be cautious and trade with care! Yesterday Gold failed to cross 1931 to open up a trade to 1938 which would have been the EMA5 cross.
As of now the trend short term 20 SMA is bearish, medium term 50SMA bearish, 200SMA is Bullish but possibly weakening;
Long-Term Gold is still a buy with the expectation of turning around from bearish to bullish in the 1895 range. However be careful and lookout if it can lock under 1912, and if it does that will open up the swing trade.
Trade with care!!!!!!
Note
We have some news and events on the calendar today so expect mid to high volatility. Take caution ⚠ keep those trades short and take profit!Trade active
Note
Based on recent price movements, it appears that gold may have found a potential support level around 1903Trade closed manually
take profit it swung beautifully from 1894-1912 , by the looks of it is going to test the lower boundaries again
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