GOLD: Bull Trap
Updated
We are seeing a failed attempt at a bullish breakout over the past two weeks.
Price has broken a consolidation support zone of 1721.
We can likely see 1700/1680 next.
Price has broken a consolidation support zone of 1721.
We can likely see 1700/1680 next.
Comment
The first TP is hit. The price action is still very bearish, we could likely see 1680 next.Comment
We are seeing some form of support forming around this region. We can likely see price range around this level before breaking upwards.We will close out the short here at a +170 pips profit and wait for a long setup to show up.
Trade closed: target reached
1680 has been hit. Price should find support at this level, but do not be in a hurry to buy.
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.