Gold: How to Trade at Resistance Zone
What about the Gold and how to trade in this market?
For me, the market stays interesting for shorting, if we talk about short and swing trading. The price is below the resistance zone formed by SMA20, the local downtrend line and resistance levels. It makes sense to search for trade opportunities for shorting in the hourly and minutes charts.
What about buying? I would like to talk about possible buying opportunities only after the breakout above the resistance zone in the daily chart. It will give a solid bullish signal in the direction of the main uptrend. We will be able to search for the exact entry points in the daily and hourly timeframes.
In spite of the direction, all trades must be used with proper risk and money management.
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.
For me, the market stays interesting for shorting, if we talk about short and swing trading. The price is below the resistance zone formed by SMA20, the local downtrend line and resistance levels. It makes sense to search for trade opportunities for shorting in the hourly and minutes charts.
What about buying? I would like to talk about possible buying opportunities only after the breakout above the resistance zone in the daily chart. It will give a solid bullish signal in the direction of the main uptrend. We will be able to search for the exact entry points in the daily and hourly timeframes.
In spite of the direction, all trades must be used with proper risk and money management.
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
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