Gold Spot / U.S. DollarUpdated Gold at resistance level in 4H chart, time to fall?
Dear traders, if you look at the 4hour chart in Gold closely, you
can see that the dynamic resistance (100 EMA) in the 4Hour chart has
stopped the rallies in Gold in many occasions in the last few weeks.
Currently, Gold is at the 4-hour resistance level once again. So far. the
Gold bulls have not been able to break the resistance level. So, if
Gold doesn't break the 1930 level with a strong bullish candle, there is a
chance for a decline in Gold to 1890 again. Short-term traders can take
advantage of this fact to sell the rallies in Gold.
can see that the dynamic resistance (100 EMA) in the 4Hour chart has
stopped the rallies in Gold in many occasions in the last few weeks.
Currently, Gold is at the 4-hour resistance level once again. So far. the
Gold bulls have not been able to break the resistance level. So, if
Gold doesn't break the 1930 level with a strong bullish candle, there is a
chance for a decline in Gold to 1890 again. Short-term traders can take
advantage of this fact to sell the rallies in Gold.
Note
Price dropped from the resistance level. More than 150 Pips
Trade closed: target reached
Price reached my target level
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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.