Gold: Bullish Trend and When to Buy
The price broke the local downtrend line and moved above SMA50. It gives us a new bullish signal in the direction of the main uptrend. MACD lines and histogram are bullish and they support further upward movement. RSI confirmed the price reversal from 1848$ support and now it is bullish.
How to trade?
I would like to use the hourly timeframes and trend following strategies. The price reversals from MAs after pullbacks will be able to give good entry points in the direction of the main trend.
Stop orders for all trades should be placed below the local swing low. The main profit target is 2000$ resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
How to trade?
I would like to use the hourly timeframes and trend following strategies. The price reversals from MAs after pullbacks will be able to give good entry points in the direction of the main trend.
Stop orders for all trades should be placed below the local swing low. The main profit target is 2000$ resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.