Dear friends, in my previous Gold idea(attached below) I told you about selling
at 1931 level. As you can see Gold has dropped nicely from our selling level.
In the 4-hour chart, we can see the formation of bearish candles at the descending
Trend line resistance. This is a good sign for the sellers.
If the price stays below 1925 and we see more bearish candlesticks forming at this
level, then Gold can drop to 1900 and even 1875 level this week.
Note that a strong bullish break about the resistance level would make this set-up
invalid.
at 1931 level. As you can see Gold has dropped nicely from our selling level.
In the 4-hour chart, we can see the formation of bearish candles at the descending
Trend line resistance. This is a good sign for the sellers.
If the price stays below 1925 and we see more bearish candlesticks forming at this
level, then Gold can drop to 1900 and even 1875 level this week.
Note that a strong bullish break about the resistance level would make this set-up
invalid.
Trade closed: target reached
Reached first target at 1900 and dropped as low as 1882
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.
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.