The market has been following the trendline for the past 2-3 days. A daily price close with a Doji candle suggests indecision, while our daily bias remains bullish. However, today is Friday, and we have the NFP news event.
We anticipate the market to move up by 120-130 pips, following the trendline, toward my identified resistance zone. Wait for gold to reach this resistance area before taking any action.
For a bearish scenario, the target range is around 310+ pips. The market may first create a large wick during the news event before experiencing a significant drop.
i'll keep this idea updated.
We anticipate the market to move up by 120-130 pips, following the trendline, toward my identified resistance zone. Wait for gold to reach this resistance area before taking any action.
For a bearish scenario, the target range is around 310+ pips. The market may first create a large wick during the news event before experiencing a significant drop.
i'll keep this idea updated.
Trade active
took this buy trade before entering to sell
Note
As predicted, the buying is almost done, running 100+ pips.
Wait for the big bearish move.
Trade closed manually
Market moved upside after giving us 2 Tps almost 200+ pips in selling.
buying = 110 pips
selling = 200 pips
total = 310 pips
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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.