Gold is trading around 2778 while we were analyzing he charts.
Bulls have initiated a supper bullish cycle started from 2600/2585 range towards the critical level 2782.xx - 2790.xx that can pause the aggressions on temporary basis but please note if gold sustained above 27900 it would entered into no man's land where it would become very difficult to trade for intraday/scalpers.
I believe gold bulls may take a breather till 2765 - 2740 that is where critical support would help to decide either gold would fall more or bounce back.
Breaking & sustaining below 2740/2735 may open 2722/2718 range as next big level to watch.
Bulls have initiated a supper bullish cycle started from 2600/2585 range towards the critical level 2782.xx - 2790.xx that can pause the aggressions on temporary basis but please note if gold sustained above 27900 it would entered into no man's land where it would become very difficult to trade for intraday/scalpers.
I believe gold bulls may take a breather till 2765 - 2740 that is where critical support would help to decide either gold would fall more or bounce back.
Breaking & sustaining below 2740/2735 may open 2722/2718 range as next big level to watch.
Trade active
Gold fell from suggested entry level/range 2782/2790 by making high of 2786 exactly, target 1, 2765 of 300+ pips is done, time to manage risk and work with trialing stoploss at entry.Trade closed: target reached
Target 2740 is donedid you followed:-)
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.