CrypTedor

Gold, Price on Trendline & Support

COMEX:GC1!   Gold Futures
At the moment Gold is right on a Strong Support Level and the long-term Bullish Trendline . Bearish volume is very high but those two levels can offer a perfect bouncing spot. As you can see, a doji candle is already creating!
Pay close attention to what price will do the next days and always use volume to confirm every single move!
Don't buy until you don't see clear bullish signals! Reversal Anticipation can be very painful.
What do you need to see before taking action?
  • big candles
  • heavy volume
  • little shadows
If the price continues lower and breaks the support, 1265 and 1240 can be used as new support levels.

Sky is not the Limit

The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
May 26
Comment: Price Bounced on our Support Area, Will it keep going up?
Bullish Volume is enough for a good confirmation.

Comments

what are the "little shadows"? thanks for chart
Reply
CrypTedor updownnorthsouth
Hi @updownnorthsouth, for little shadows i mean the lines above and below the candlesticks.
Small shadows are a sign of strength. You're welcome :)
Reply
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