Hey, I am back with another idea, this time looking at Gold.
So basically a gold has seen a good run and now it's finally showing some bear, selling signs.
There is a double top RSI on 4H and also on daily time frame, this can be denied by breaking a level of $1,737 by a full 4H candle.
The price is still holding on support and on uptrend line so it still may found a good support and go ahead and retest 1,750$ but it was denied there pretty hard last time so it's more unlikely to hit this level.
I am not trading gold before I see how it reacts further on this uptrend line, I need some more confirmations.
Have a good luck with trading and stick to your rules!
So basically a gold has seen a good run and now it's finally showing some bear, selling signs.
There is a double top RSI on 4H and also on daily time frame, this can be denied by breaking a level of $1,737 by a full 4H candle.
The price is still holding on support and on uptrend line so it still may found a good support and go ahead and retest 1,750$ but it was denied there pretty hard last time so it's more unlikely to hit this level.
I am not trading gold before I see how it reacts further on this uptrend line, I need some more confirmations.
Have a good luck with trading and stick to your rules!
Note
Uptrend is still active
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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.