GOLD
here an very interesting situation for both buyer and seller. Price following ascending channel accordingly and increasing within a channel. Last NFP strength gave extreme weakness to Yellow metal and drop down 500+ pips down now price to major support zone where a little correction to dollar index will give a upside move and targeted zone will be 1900. If Tomorrow dollar shows strength again we will looking for bearish target 1830. Now price stop to the very critical zone where confusion still lie for both bulls and bears. I am watching both scenario very carefully any side rejection or respecting zone will give a good entry. Note this point very carefully for the last month all the pattern on high T.F failed and price straight go up without any correction. Now we can consider this movement as an correction of trend. Here 2nd last candle giving clear indication the bear wins the race and price coming down. Here while taking entry make sure you are on the right place where chance to give false move and then sudden change its direction on opposite side.At the current situation and on the behalf of technical analysis there is no clear picture we are seeing there. An ascending trendline on daily broke out but on 4h time frame from the bottom is still valid may it acts here and short time see bullish move. But before go for trade check its validity on right time. On small time Frame RSI in making divergence a little but this is not clear indication.
BEFORE go for trade check proper price action
here an very interesting situation for both buyer and seller. Price following ascending channel accordingly and increasing within a channel. Last NFP strength gave extreme weakness to Yellow metal and drop down 500+ pips down now price to major support zone where a little correction to dollar index will give a upside move and targeted zone will be 1900. If Tomorrow dollar shows strength again we will looking for bearish target 1830. Now price stop to the very critical zone where confusion still lie for both bulls and bears. I am watching both scenario very carefully any side rejection or respecting zone will give a good entry. Note this point very carefully for the last month all the pattern on high T.F failed and price straight go up without any correction. Now we can consider this movement as an correction of trend. Here 2nd last candle giving clear indication the bear wins the race and price coming down. Here while taking entry make sure you are on the right place where chance to give false move and then sudden change its direction on opposite side.At the current situation and on the behalf of technical analysis there is no clear picture we are seeing there. An ascending trendline on daily broke out but on 4h time frame from the bottom is still valid may it acts here and short time see bullish move. But before go for trade check its validity on right time. On small time Frame RSI in making divergence a little but this is not clear indication.
BEFORE go for trade check proper price action