Gold: New Trade Opportunities at Key Zones
The trading idea based on the price reversal from 1900.00$ failed. Yes, it can be like that! Welcome to the real trading!
So, what's next? How should we trade in this market if the price broke the solid resistance?
I'm going to offer you several options based on the price action at other important zones. The price is not far from the resistance zone formed by SMA200 and 1920.80$ resistance level. It means we can trade a reversal from this zone and a breakout above this zone. We have to wait for additional bearish or bullish signals just in order to join the market movement.
If the price bounces from the resistance zone and moves down, we will be able to use a reversal signal from 1900.00$ for buying. It will be a workable plan for those who believe in the bullish market.
All trades must be used with stop orders and proper risk management. It is absolutely okey to have trades closed by stop as it is the part of the game. But when you don't respect the risk and money management, you will have good chances to blow up your capital. Even if you use high-quality trading setups, without the proper trading you will fail.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
So, what's next? How should we trade in this market if the price broke the solid resistance?
I'm going to offer you several options based on the price action at other important zones. The price is not far from the resistance zone formed by SMA200 and 1920.80$ resistance level. It means we can trade a reversal from this zone and a breakout above this zone. We have to wait for additional bearish or bullish signals just in order to join the market movement.
If the price bounces from the resistance zone and moves down, we will be able to use a reversal signal from 1900.00$ for buying. It will be a workable plan for those who believe in the bullish market.
All trades must be used with stop orders and proper risk management. It is absolutely okey to have trades closed by stop as it is the part of the game. But when you don't respect the risk and money management, you will have good chances to blow up your capital. Even if you use high-quality trading setups, without the proper trading you will fail.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.