GOLD LONG TERM SHORT POSSIBILITY
Updated
GOLD HAS BEEN RESISTING THE 1810-1814 AREA FOR A LITTLE WHILE NOW,,,BEEN IN AN UPTREND, PRICE IN UNDER THE 21 EMA AND PULLBACKS HAVE ALREADY HAPPENED ON LOWER TIME FRAMES AND MACD DIVERGENCE ON H1. LOOKING FOR A SELL TO START TODAY AND TOMORROW TO BREAK TRENDLINE AND THEN NEXT WEEK KEEP SELLING OFF.
STOP LOSS ABOUT 90 PIPS ($9.00 MOVE)
TAKE PROFIT LONG TERM IS 600 PIPS($60.00 MOVE)
THE 2 YELLOW ZONES ARE TAKE PROFIT ZONES
STOP LOSS ABOUT 90 PIPS ($9.00 MOVE)
TAKE PROFIT LONG TERM IS 600 PIPS($60.00 MOVE)
THE 2 YELLOW ZONES ARE TAKE PROFIT ZONES
Note
Gold went about 30 pips in drawdown and then tanked for around 100 pips. Secured profit trailing the stop profit...it might not be ready to tmfinally turn down. Possibly consolidate for a while
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