GOLD: SHORT FROM RESISTANCE AREA + 61.8% FIBO+ 200 SMA | SELL
Updated
Like Explained in the previous Idea about GOLD
Today we Analyze the GOLD chart from the 8H timeframe for a better zoom of the situation. The price after a Deep Pullback, touched and reject the 61.8% Fibo area of resistance ( White rectangle ) around 1800.00 and, as we can see the price seems ready to revert its bullish momentum in favor of the Main trend, the Bearish one.The price also feel the 200 SMA in this timeframe like a dynamic resistance to not go over. The RSI is still in overbought with divergences, Ichimoku also in this timeframe gives a Bearish forecast and our clues continue to be for a Bearish setup.
Today we Analyze the GOLD chart from the 8H timeframe for a better zoom of the situation. The price after a Deep Pullback, touched and reject the 61.8% Fibo area of resistance ( White rectangle ) around 1800.00 and, as we can see the price seems ready to revert its bullish momentum in favor of the Main trend, the Bearish one.The price also feel the 200 SMA in this timeframe like a dynamic resistance to not go over. The RSI is still in overbought with divergences, Ichimoku also in this timeframe gives a Bearish forecast and our clues continue to be for a Bearish setup.
Note
NEW UPDATE 
✅ TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: instagram.com/forexn1_com/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: instagram.com/forexn1_com/
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.