GOLD / Are we touching the bottom or flying up?
After 2 wins in a row in 'Mind' section, I opened the 3rd position. Let's post here.
Here is what I think: Gold price almost touched the bottom of the 6-day bearish trendline. Is there a chance that the price will go up? Sure. But according to my analysis and tools, the price will go down back to 2540 again with a probability of 75%, there is a possibility that it'll go even lower, but I'll take only 150 pips down just to be more confident.
To be honest, I think that even if today's news about PPI is positive for gold, gold will still fall. It'll definitely reverse, but it must reach the bottom first.
My position: TP at 2540, my stop loss is very far to be on the safe side.
Trade safely and let's see what happens! ☕️
Here is what I think: Gold price almost touched the bottom of the 6-day bearish trendline. Is there a chance that the price will go up? Sure. But according to my analysis and tools, the price will go down back to 2540 again with a probability of 75%, there is a possibility that it'll go even lower, but I'll take only 150 pips down just to be more confident.
To be honest, I think that even if today's news about PPI is positive for gold, gold will still fall. It'll definitely reverse, but it must reach the bottom first.
My position: TP at 2540, my stop loss is very far to be on the safe side.
Trade safely and let's see what happens! ☕️
Note
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