Gold - sell on 4H - target 1281 $
Updated
Market price retraced today before hitting the down trend line which implements strong bearish incoming volume (probably because many share/stock prices have risen sharply today and therefore a capital shift has taken place in the short term). This movement implements a down correction to 1280 $ which is confirmed after a retest of 1300 $, there is another good short entry.
-market price supported my 50 day moving average and 1293 $ support
-expect up movement to 1300 $ and there again strong resistance because 100day and 200 day moving averages are in this area
-wait for confirmation before entering this trade
-confirmation = three candles close under 1300 $
-move stop loss to entry after down movement has begun
-market price supported my 50 day moving average and 1293 $ support
-expect up movement to 1300 $ and there again strong resistance because 100day and 200 day moving averages are in this area
-wait for confirmation before entering this trade
-confirmation = three candles close under 1300 $
-move stop loss to entry after down movement has begun
Trade active
Trade closed manually
take profit at 1285 - market now in sideways trend
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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