🔸Hello traders, today let's review the key s/r levels on gold 4 hour price chart.
We got a noteworthy sequence of lower lows and lower highs, indicating a strong
downtrend, currently re-distribution in progress with limited upside.
🔸Fresh supply overhead at 1947/1970/1986 usd, while also fresh demand below
at 1902/1886 usd, however bears maintain strategic advantage and rips/rallies
get sold indicating limited upside potential for gold prices mid-term/short-term.
🔸bulls should remain on sidelines and wait for a bounce play later near 1850 usd.
🔸Outlook and recommended trading strategy: bears should wait for rips/rallies
and short from overhead resistances, break below recent lows at 1886 usd
opens up further downside and bears will target 1850 usd immediately,
1850 usd is a natural progression for the sequence of lower lows.
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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
We got a noteworthy sequence of lower lows and lower highs, indicating a strong
downtrend, currently re-distribution in progress with limited upside.
🔸Fresh supply overhead at 1947/1970/1986 usd, while also fresh demand below
at 1902/1886 usd, however bears maintain strategic advantage and rips/rallies
get sold indicating limited upside potential for gold prices mid-term/short-term.
🔸bulls should remain on sidelines and wait for a bounce play later near 1850 usd.
🔸Outlook and recommended trading strategy: bears should wait for rips/rallies
and short from overhead resistances, break below recent lows at 1886 usd
opens up further downside and bears will target 1850 usd immediately,
1850 usd is a natural progression for the sequence of lower lows.
🎁Please hit the like button and
🎁Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
Note
weak levels below, if we get a breakout expect strong sell side pressureNote
breaking down already, watch outNote
dump in progressTrade closed: target reached
1850 usd was just hit, congrats, TP hit.Note
eurusd strategic outlook bears will target 1.0000
Note
eurgbp h4 best level to buy/hold TP +175 pips
taplink.cc/black001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
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💎75% win rate free gold signals
t.me/syndicategold001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
🚀supercharge your trading
💎75% win rate free gold signals
t.me/syndicategold001
Related publications
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.
taplink.cc/black001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
🚀supercharge your trading
💎75% win rate free gold signals
t.me/syndicategold001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
🚀supercharge your trading
💎75% win rate free gold signals
t.me/syndicategold001
Related publications
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.