Note: Gold, XAU/USD
Gold follows what we predicted previously.
Gold having price correction to 20-EMA now.
Overall, we are still bearish on this pair!
There are 4 trading plans for this trade:
1. Since the price pullback to 20-EMA, followed by
a bearish signal, good chance to short with little risk.
2. Wait the price pullback slighlty further to support
zone and another better bearish signal to short.
3. If the price continue the bearish movement, watch
it break the immediate 2 support lines as indicated.
And wait for pullback and bearish signal to short.
4. If the price pullback too strong to 1192 support level,
we might need to see if we want to accumulate short
position or a reversal pattern was formed.
Gold follows what we predicted previously.
Gold having price correction to 20-EMA now.
Overall, we are still bearish on this pair!
There are 4 trading plans for this trade:
1. Since the price pullback to 20-EMA, followed by
a bearish signal, good chance to short with little risk.
2. Wait the price pullback slighlty further to support
zone and another better bearish signal to short.
3. If the price continue the bearish movement, watch
it break the immediate 2 support lines as indicated.
And wait for pullback and bearish signal to short.
4. If the price pullback too strong to 1192 support level,
we might need to see if we want to accumulate short
position or a reversal pattern was formed.
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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.