The D1 candle on Friday clearly identified selling pressure and the amount of fomo pushed the price to 2972.
The H4 structure is still showing that the downward force will continue to be maintained when 3054 was rejected by the buyers.
Back to the trading plan The 3018 and 3035 border areas are considered sideways compression borders. If the price breaks 3018, wait for a retest and sell to 3003. If the US session breaks 3003, then push to 2955.
If the 3018 border remains strong, wait for a break of 3035 to BUY to the exchange price zone of 3054. BUY signals for short-term city and are considered to be against the trend at the moment. When the US session fails to break 3055, you can sell and hold long. If it breaks 3055, waiting for 3080 to sell will be safer than fomo to BUY against the trend.
The H4 structure is still showing that the downward force will continue to be maintained when 3054 was rejected by the buyers.
Back to the trading plan The 3018 and 3035 border areas are considered sideways compression borders. If the price breaks 3018, wait for a retest and sell to 3003. If the US session breaks 3003, then push to 2955.
If the 3018 border remains strong, wait for a break of 3035 to BUY to the exchange price zone of 3054. BUY signals for short-term city and are considered to be against the trend at the moment. When the US session fails to break 3055, you can sell and hold long. If it breaks 3055, waiting for 3080 to sell will be safer than fomo to BUY against the trend.
Trade active
Gold price holds above $3,000 amid a global meltdown; bulls seem non-committedGold price attracts some sellers near the $3,055 support-turned-resistance and stalls its intraday recovery from the $2,972-2,971 area, or a nearly four-week low touched earlier this Monday. Investors continue to unwind their bullish positions to cover losses from a broader meltdown across the global financial markets
Trade closed: target reached
The candle did not break 3055 and fell to 2957
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JOIN OUR FREE TELEGRAM GROUP t.me/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.