Sell gold with entry at 1210.
Reasons
1. Short term moving averages crossed to downside.
2. Price has fallen out of the recent uptrending channel.
3. Break of significant horizontal support @ 1219.
3. Heikin Ashi close beneath the moving averages.
Stop @ 1230 ( above 14 EMA).
Target @ 1153 ( .786 fib retracement of recent swing ) .
Risk Reward = 2.5 +
Reasons
1. Short term moving averages crossed to downside.
2. Price has fallen out of the recent uptrending channel.
3. Break of significant horizontal support @ 1219.
3. Heikin Ashi close beneath the moving averages.
Stop @ 1230 ( above 14 EMA).
Target @ 1153 ( .786 fib retracement of recent swing ) .
Risk Reward = 2.5 +
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.
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.