On the weekly time frame we see that not only gold is gonna break its lower range. Its also about to break 72 EMA and 14 EMA. As you can see a break of either of this EMA levels made gold trade in the direction of the break for a few weeks and now its about to break both of them almost at once.
The Adx indicator also shows a strong bearish trend and Stoch Rsi made a nice bearish crossover on the weekly time frame meaning that buying pressure is over.
How to trade:
Sell at CMP or sell the Spike. SL at 1240.
TP: Who knows where this will end, 1190 might be first bounce back zone
The Adx indicator also shows a strong bearish trend and Stoch Rsi made a nice bearish crossover on the weekly time frame meaning that buying pressure is over.
How to trade:
Sell at CMP or sell the Spike. SL at 1240.
TP: Who knows where this will end, 1190 might be first bounce back zone
Trade active
Trade active
Trade active:
Long term trade as usual with the weekly time frame.
When you click the play button you see that it had a small correction wave up that after spike against the trend line went back down again.
Around 1185 remains the target
When you click the play button you see that it had a small correction wave up that after spike against the trend line went back down again.
Around 1185 remains the target