If we are looking at 1D chart we can see that price broke down from huge accumulation and is in clear down trend. We expect price to reach second support line around 1815 aria and bounce from there to the resistance aria around 1915 where was previously strong support. At a longer run we expect price to reach 1750 aria where is huge support line and from there we will see where it will go, depending how will price react to that support line. We will continue to monitor price action on lower time frames for possible and accurate entry. If you like this idea please like it and leave a comment.
am in with a buy in good profit ( should I still hold??
ProfitDesk
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@Ntinda, if you are in nice profit and thinking whether to hold or close, best option is to close partial trade in profit, move stop loss to entry level and wait.
That's what we usually do, if it continues good but if it reverse you are good again since you booked some profits already.
Our opinion is that price will continue fall
Subrato-Nandi
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Can you please explain me it in details
adityor
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hi how's fed powell efecting gold? bear or bull?
ProfitDesk
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@adityor when ever fed have big announcement gold reacts, but only short term. I think gold will continue its fall to 1800 approximately regardless of fed speech.