Gold closes below the daily pivot for today, and forms a lower low and lower high, the chance of a price increase will continue to move lower.
First Option:
-Open short positions below the first daily resistance ($ 1206.72 / oz) if the price rises above the pivot but cannot pass and hold above the first daily resistance.
-TP1 on the daily pivot ($ 1202.46 / oz)
-TP2 at the first daily support ($ 1196 / oz) if the price moves past the pivot.
-SL at a few points above the first daily resistance or on previous swing high.
-Wait for confirmation to open a position
Second Option:
-Open short positions below the daily pivot ($ 1202 / oz) if the price can't go above and stay above the daily pivot.
-TP1 at the first daily support ($ 1196 / oz)
-TP2 at the second daily support ($ 1191 / oz)
-Wait for confirmation to open a position
First Option:
-Open short positions below the first daily resistance ($ 1206.72 / oz) if the price rises above the pivot but cannot pass and hold above the first daily resistance.
-TP1 on the daily pivot ($ 1202.46 / oz)
-TP2 at the first daily support ($ 1196 / oz) if the price moves past the pivot.
-SL at a few points above the first daily resistance or on previous swing high.
-Wait for confirmation to open a position
Second Option:
-Open short positions below the daily pivot ($ 1202 / oz) if the price can't go above and stay above the daily pivot.
-TP1 at the first daily support ($ 1196 / oz)
-TP2 at the second daily support ($ 1191 / oz)
-Wait for confirmation to open a position
Trade closed: target reached
