GOLD 1320 or 1200 where would it go first
Well, there was a spike upwards before the rate hikes but soon hikes made gold low and now it seems to get relaxed with 3 GREEN candles. In 1Day GOLD chart, Stochastic is in oversold area and is about to crossover, if crossover is successful and it comes in its 20.xx then gold is likely to go 1320 first. But meanwhile in 4H chart Stochastic, RSI are overbought. and its uncertain when those short traders will bring 1200 first. Lets see which side to go first.
Comment:
Decision time.. Coming Soon..
same number of bars at trendlne.. Same timing too.. today again a fat finger or will broke the trendline..
same number of bars at trendlne.. Same timing too.. today again a fat finger or will broke the trendline..
Comment:
Crossed the trend line..
Now the final hurdle for bulls and before going for bull..
Now the final hurdle for bulls and before going for bull..
Comment:
Still sideways.. not getting any momentum... Anywhere..
Trade active:
Crossed trendline.. Short it
Trade closed manually:
Closed @1210
Trade active:
Long for 1320..
Trade closed manually
Comment:
Trade closed: target reached
If Stoch(11,5,9) in 1D remains in oversold and in 4H comes under 80 and heads south, go for Short.
Or if Stoch(11,5,9) in 1D moves up and in 4H remains in overbought then go for long.
Note: in Both case, sideways movement is also a possibility.