Gold Neutral idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All major timeframes on gold are now bearish after last week. Clearly we are in a new bearish trend and we will look to continue with it.
Ideally, price action retraces to form structure closer to 1800.00 resistance and presents a great short opportunity.
Look to target lower toward major support levels.
Trade scenario 2: The other likely scenario is that price action just keeps falling. We will then have to re-analyze and come up with new potential scenarios.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All major timeframes on gold are now bearish after last week. Clearly we are in a new bearish trend and we will look to continue with it.
Ideally, price action retraces to form structure closer to 1800.00 resistance and presents a great short opportunity.
Look to target lower toward major support levels.
Trade scenario 2: The other likely scenario is that price action just keeps falling. We will then have to re-analyze and come up with new potential scenarios.
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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.
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.