Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Despite last weeks’ huge bullish volume we are still overall bearish. As long as price action remains below 1675.00 bearish is our bias.
Going into this week we’re looking for reactions from 1675.00 and we can spot a couple good setups if we do head bearish again.
Look to enter short on significant rejection & lower highs after a break of support.
Trade scenario 2: For us to consider gold bullish again we would need to see a significant break above 1675.00 with a higher low above.
Only in this scenario I would consider longing gold given the current price action.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Despite last weeks’ huge bullish volume we are still overall bearish. As long as price action remains below 1675.00 bearish is our bias.
Going into this week we’re looking for reactions from 1675.00 and we can spot a couple good setups if we do head bearish again.
Look to enter short on significant rejection & lower highs after a break of support.
Trade scenario 2: For us to consider gold bullish again we would need to see a significant break above 1675.00 with a higher low above.
Only in this scenario I would consider longing gold given the current price action.