So guys, here is my weekly view on gold based on 4h. As we had NFP behind which create high volatility but not being able to break the monthly range of 1770-1795 it confirm the bearish set up which I will gonna look at in the upcoming weeks.We are in bearish flag which invalidation should be 97, as we have seen wed din not being able to break and sustain but kept gold in to it. we have few major levels to monitor 1751(previous low)/1740(new low)which if broken will open the gates for 1720 and my final target of 1678. If the last one is broken we will create new 12months low which might head us down to 1600 but I highly doubt it. my buy pending orders would be 1720 and 1688.
Trade active:
Short from 1815 targets remain the same after a rejection on the resistance
Trade active:
The current level of we close at this price have formed bearish cross over,since we did not break the previous high make a new high today we have formed very dangerous zone by forming this cross which as per my view would be very rough set up for the bull who trapped with longs.as the both EMA have crossed today the first major point would be lower Boilinger to be tested and new low at 1837 to be touched
Trade closed: target reached:
Final target hit! Thank you for the attention