Gold - buy on 4H - how to trade & good entry
Dear traders and followers,
the gold price has gone into a correction movement and lost almost $200 in value per ounce last week after reaching a new all time high. We are waiting for a new test of $1900 and subsequent buy confirmation before opening a buy position.
The MACD indicator is below the 0 line (bearish) and the base lines are close to an bearish crossing. The buy volume is very low and weak and will soon reopen in sales volume. A possible short position could be entered after a failed test of 1960$ with tight stop loss.
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Thanks for your support !
the gold price has gone into a correction movement and lost almost $200 in value per ounce last week after reaching a new all time high. We are waiting for a new test of $1900 and subsequent buy confirmation before opening a buy position.
The MACD indicator is below the 0 line (bearish) and the base lines are close to an bearish crossing. The buy volume is very low and weak and will soon reopen in sales volume. A possible short position could be entered after a failed test of 1960$ with tight stop loss.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
Trade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
