Price showed rejections at the trendline and its respecting the resistance zone. Looking for shorts, and selling it to the nearest freshest demand area.
Gold broke through the support level at 1745 our previous TP, and now it retraced back to that level. 15m candles showed signs of bearish taking over and engulfing candles. thus we go short looking for the next support levels
Gold currently at a resistance zone and looking for reversals here. H1 has already made a bearish engulfing candle and H1 almost making a HNS. looking for price to retrace back to that area and start selling. very tight SL, only 20 pips. trade at own risk.
Gold has respected the trendlines drawn in the previous analysis. On the 4hr timeframe, gold is currently forming a falling wedge and it is respecting the lines drawn. If you were to take a look at the weekly analysis, the price of gold is almost reaching the 0.618 fib retracement zone, price at 1689.33. so anywhere between 0.5-0.618 is a good area to put in your...
