Here is what to expect on Gold
RECAP:
In our previous analysis we expected Gold to be bullish
We had buy stop positions opened at $1835 which were triggered and closed at $1848 banking 260 pips on gold over 20 positions
Gold was met with resistance at the $1850-$1848 range and is currently trading at $1842.
WHAT TO EXPECT:
Gold continues to be bullish but we expect a short term bearish move towards support at $1830 before a continuation to the upside
Inverse Head & Shoulders formed on 4H chart : Gold might ignore the move to the downside & continue upward trend
If Gold breaks below $1830 we expect it to go back to $1810, $1800 & $1785.
OUR CURRENT POSITIONS:
Buy Stop @: $1855
Buy Stop TP @: $1865
Sell Stop @: $1820
Sell Stop TP @: $1810
Note: Trading Events might influence Gold today
RECAP:
In our previous analysis we expected Gold to be bullish
We had buy stop positions opened at $1835 which were triggered and closed at $1848 banking 260 pips on gold over 20 positions
Gold was met with resistance at the $1850-$1848 range and is currently trading at $1842.
WHAT TO EXPECT:
Gold continues to be bullish but we expect a short term bearish move towards support at $1830 before a continuation to the upside
Inverse Head & Shoulders formed on 4H chart : Gold might ignore the move to the downside & continue upward trend
If Gold breaks below $1830 we expect it to go back to $1810, $1800 & $1785.
OUR CURRENT POSITIONS:
Buy Stop @: $1855
Buy Stop TP @: $1865
Sell Stop @: $1820
Sell Stop TP @: $1810
Note: Trading Events might influence Gold today
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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.
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.