Potential Gold Reversal
Publishing a potential reversal in gold, offering an initial 6.8 R/RR
i think NFP tomorrow will ultimately determine the direction of this. Would be happy to short if 1250 breaks as the risk / reward simply inverts and offers good potential.
Looking very oversold on the RSI but it has been lower in the past. Also, we are on our 8th consecutive down day, which i believe has only happened a handful of times. Probability is, therefore, also on our side with this trade.
i think NFP tomorrow will ultimately determine the direction of this. Would be happy to short if 1250 breaks as the risk / reward simply inverts and offers good potential.
Looking very oversold on the RSI but it has been lower in the past. Also, we are on our 8th consecutive down day, which i believe has only happened a handful of times. Probability is, therefore, also on our side with this trade.
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.