Gold Bearish Focus (Strong rejection + Impulsive Bear Entries)
Hi Friends,
So here in Gold what i've gotten is that its still bearish & is in control of bears traders. So 1,2 reversal candle will not change this rejection moves & the last day candle is impulsively bearish. Even if we see candlestick strategies i've founded that in H4 the bull candles are even pullingt back which means this was just a correction or a stay into the bearish move so it must be neglected.
Today we've NFP either, so let's see how it'll react to market in this news.
Gold prices continue to slide lower against the US dollar. As of writing, XAU/USD trades at $1,861 with 0.5% losses. The greenback gathered momentum on the upbeat US economic data released on Thursday. The strong labor market condition fuels the fear of persistent inflation and a sooner than expected rollout of the ultra-accommodative Fed’s policy. The US 10-year benchmark ticked higher at 1.63% amid strong economic data, which weighed upon gold prices.
For Bullish to be happen i've mentioned the area approx 1876 to take bull trade but in only the case if there's a sign of impulsive bullish otherwise don't take risk on bull as reversal can occur with a spike candlestick for the last bearish move yesterday.
So here in Gold what i've gotten is that its still bearish & is in control of bears traders. So 1,2 reversal candle will not change this rejection moves & the last day candle is impulsively bearish. Even if we see candlestick strategies i've founded that in H4 the bull candles are even pullingt back which means this was just a correction or a stay into the bearish move so it must be neglected.
Today we've NFP either, so let's see how it'll react to market in this news.
Gold prices continue to slide lower against the US dollar. As of writing, XAU/USD trades at $1,861 with 0.5% losses. The greenback gathered momentum on the upbeat US economic data released on Thursday. The strong labor market condition fuels the fear of persistent inflation and a sooner than expected rollout of the ultra-accommodative Fed’s policy. The US 10-year benchmark ticked higher at 1.63% amid strong economic data, which weighed upon gold prices.
For Bullish to be happen i've mentioned the area approx 1876 to take bull trade but in only the case if there's a sign of impulsive bullish otherwise don't take risk on bull as reversal can occur with a spike candlestick for the last bearish move yesterday.