Back again with another sell on GOLD. We have multiple signals telling us that price has the potential to go down. Fib level, trendline, resistance. As always, please use them risk management fam.
Gold failed to break the 1450 mark which has formed our support base for the trade. I am entering a long trade with a good RR ratio. PLEASE use proper risk management since we are in an extremely volatile state.
Price is looking like it has some downside potential. The bull spike from yesterday was due to the US Fed decreasing the interest rates. I think Gold will continue it's bearish run since all the noise from yesterday should have settled. Always remember to have a stop loss in place and try not to risk more than 2% per trade. Good luck!
Opening a short position on Gold. Use proper risk management if taking any positions. It's very volatile due to the Corona Virus threat.
Triple bottom formed. Broke trendline and retesting. Bounced off the 61.8 fib. Plan: I will be waiting for the daily close and entering a long after. 1% Risk. Good Luck!
Broke and retest of trendline on the daily chart. Purely technical. Let's hope Korea does not fire any more missiles. :)
Price is in range of a sell. It is supported by resistance and Fib level.
Price reached strong resistance level. Expecting price to respect resistance and go down to the 1196 level.