On market open this week we saw a downside impulse on GOLD. This has been going on for the past 4 days. We're expecting a breakout in either direction, but a downside move to 1700 is more likely to happen.
This is a good opportunity to look for short positions with a good RRR. As always our entry is based on current market state. The best way to enter would be a breakout of support or candlestick signal.
Watch out for our daily analysis to find out how this will play out. Support us by giving us a like and leave a comment down below!
I think it is doing pretty well so far. It is holding around 1760 USD nicely so far. I think there is more upside in a big picture and that we might have bottomed out already on a Monday. But lets see what happens. Wish you great luck with your trade!
@Tradersweekly, Although it did make a deeper pullback, it is more likely to reverse and continue lower. Watch out for this one :) Thanks for your comments!
Tradersweekly
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@ForexTrendline, Sure, I am watching this one closely. It is one of my favorite commodities. Thank you as well.
ForexTrendline
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@Tradersweekly, interesting, we actually think that there will be another downside move and price testing the bottom again, looking forward to how this is going to play out! Good luck to you too!
Samsonnd4
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I'm losing, I buy alot yesterday, I wish I was here to see the update 😭😭