Key Event : PPI Mom
I dont think this event will move the market much.
Gold is on the downtrend. Market pressure with the US dollar moving higher, gold is a non yield instrument, will be facing downward pressure.
Review of yesterday.
Day Trade, hit TP (1.4 RR)
Today outlook
DZ at 2558 - 2550, will be key if this break, we are looking at 2500.
Supply Zone : 2665.18 (4H) / 2619.34 (1H) / 2594 (1H)
Demand Zone : 2558.8 (Daily)
Support & Resistance zone :
1. 2652
2. 2589
3. 2487
Forecast (Swing Setup)
Asia sell down session.
London session -> NY Session
Scenario 1:
Retract to SZ (1H) 2594 , and go back down to DZ.
Potential (1:4.41 RR)
Scenario 2 (this is from yesterday):
if it breaks the trend line it will go up to the Supply Zone of 4H
Potential (1:9 RR)
Scenario 3:
Breaks Trend Line it will go up to 2618 to retest, I am still bearish. Will go back down to 2514.
Potential (1: 11 RR)
Day Setup
Entry : Fib 0.618 - 2594.28
SL : 2618.5
TP: 2554.77
1:2.39 (RR)
I dont think this event will move the market much.
Gold is on the downtrend. Market pressure with the US dollar moving higher, gold is a non yield instrument, will be facing downward pressure.
Review of yesterday.
Day Trade, hit TP (1.4 RR)
Today outlook
DZ at 2558 - 2550, will be key if this break, we are looking at 2500.
Supply Zone : 2665.18 (4H) / 2619.34 (1H) / 2594 (1H)
Demand Zone : 2558.8 (Daily)
Support & Resistance zone :
1. 2652
2. 2589
3. 2487
Forecast (Swing Setup)
Asia sell down session.
London session -> NY Session
Scenario 1:
Retract to SZ (1H) 2594 , and go back down to DZ.
Potential (1:4.41 RR)
Scenario 2 (this is from yesterday):
if it breaks the trend line it will go up to the Supply Zone of 4H
Potential (1:9 RR)
Scenario 3:
Breaks Trend Line it will go up to 2618 to retest, I am still bearish. Will go back down to 2514.
Potential (1: 11 RR)
Day Setup
Entry : Fib 0.618 - 2594.28
SL : 2618.5
TP: 2554.77
1:2.39 (RR)
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.