Key Event : Retail Sales
Gold had some retracement from this past week downward pressure.
With Dollar holding new high.
Review of yesterday.
Did a scalping trade that result in a small SL on the 15 min timeframe.
Entry : 2570.11
SL : 2575
Was thinking its a retracement did a SL that is too tight.
Today outlook
Similar to yesterday, the key levels and SZ have no change.
One key thing to note is the EQH on 2577.45
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)
Entry: Retest of 2577.45 on a LTF (lower time frame)
SL: 2562.48
TP: 2599.71
Gold had some retracement from this past week downward pressure.
With Dollar holding new high.
Review of yesterday.
Did a scalping trade that result in a small SL on the 15 min timeframe.
Entry : 2570.11
SL : 2575
Was thinking its a retracement did a SL that is too tight.
Today outlook
Similar to yesterday, the key levels and SZ have no change.
One key thing to note is the EQH on 2577.45
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)
Entry: Retest of 2577.45 on a LTF (lower time frame)
SL: 2562.48
TP: 2599.71
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.