Gold is bleeding since monday. The break from trendline at 1980 and Head and Shoulder pattern are indications for selling.
Now the trend is bearish. So go for sell trades.
If prices closes below 1925 in 4 hours chart then we can expect gold to test levels upto 1880 before reversal.
However war is still happening and we can expect gold to reverse anytime soon.
We can also see that volume is slowly decreasing day by day. So bears will lose their strenght.
My trading idea
Sell 1920 SL 1930 TP 1900
Buy 1880 SL 1860 TP 2000
Resistance for bulls 1945 and 1990
Support 1900 and 1878
Now the trend is bearish. So go for sell trades.
If prices closes below 1925 in 4 hours chart then we can expect gold to test levels upto 1880 before reversal.
However war is still happening and we can expect gold to reverse anytime soon.
We can also see that volume is slowly decreasing day by day. So bears will lose their strenght.
My trading idea
Sell 1920 SL 1930 TP 1900
Buy 1880 SL 1860 TP 2000
Resistance for bulls 1945 and 1990
Support 1900 and 1878
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.
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.