what i really want to see on gold.
Updated
in about one hours and half, we have upcoming news on USD, the "New Home Sales", it may make USD weak, because on WSJ, I read some bad articles about new home sales, i think it can make the gold bullish a bit, on the other hand we have a new resistant area formed around 2015.42 which i think can hold the gold price below.
if the price successfully break 2015.71, it can be a good opportunity for longing gold, but because there is also a HTF resistant zone around 2016.74, i will not enter long in that area.
so, the only scenario i want to happen, is the sells.
sells below 2011.63, and with a suitable stoploss, i think it is not a high risk sells, but we may face a fake breakout and price may go back around 2012.67 (near our stoploss), and then it continues to drop.
after reacting both 2015.71 and 2011.63, depending on how the candle closes, i decide if i want to enter the gold or not.
have a nice day Traders. ;-)
if the price successfully break 2015.71, it can be a good opportunity for longing gold, but because there is also a HTF resistant zone around 2016.74, i will not enter long in that area.
so, the only scenario i want to happen, is the sells.
sells below 2011.63, and with a suitable stoploss, i think it is not a high risk sells, but we may face a fake breakout and price may go back around 2012.67 (near our stoploss), and then it continues to drop.
after reacting both 2015.71 and 2011.63, depending on how the candle closes, i decide if i want to enter the gold or not.
have a nice day Traders. ;-)
Note
this is why i told you i am not going to buy above 2015.71 Note
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