Gold - Intraday - We look to Buy at 1905
Levels close to the 38.2% pullback level of 1900 found buyers.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
The hourly chart technicals suggests further upside before the downtrend returns.
Weekly pivot is at 1905.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1905, resulting in improved risk/reward.
Posted double bottom formation at 1895.
Our profit targets will be 1927 and 1992
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1689
Levels close to the 38.2% pullback level of 1900 found buyers.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
The hourly chart technicals suggests further upside before the downtrend returns.
Weekly pivot is at 1905.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1905, resulting in improved risk/reward.
Posted double bottom formation at 1895.
Our profit targets will be 1927 and 1992
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1689
Trade closed: stop reached
Stop loss hit!
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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.
Related publications
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.