Gold is trading inside a Channel Down after the market peaked at the start of February.
The MA50 4H is established as Resistance and is critical for the short term.
Trading Plan:
1. Sell every time the price approaches the MA50 4H.
2. If broken sell inside the Resistance 1 and MA200 4H confluence.
Targets:
1 & 2. 1800 on both occassions (-5.15% symmetric decline and above Support 1 and MA200 1D).
Tips:
1. The RSI 4H is on a Rising Support, meaning it's a Bullish Divergence. By month's end the market can turn bullish long term again, especially as the MA200 1D is closing in. Best to have all shorts closed before.
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The MA50 4H is established as Resistance and is critical for the short term.
Trading Plan:
1. Sell every time the price approaches the MA50 4H.
2. If broken sell inside the Resistance 1 and MA200 4H confluence.
Targets:
1 & 2. 1800 on both occassions (-5.15% symmetric decline and above Support 1 and MA200 1D).
Tips:
1. The RSI 4H is on a Rising Support, meaning it's a Bullish Divergence. By month's end the market can turn bullish long term again, especially as the MA200 1D is closing in. Best to have all shorts closed before.
Please like, follow and comment!!
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Disclaimer
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Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.