WHERE IS GOLD GOING NEXT?????
Dear Traders,
I am a bit neutral today though I'm still a bit skewed towards bearish as gold seem to have been consolidating and may be a bit to jump into new sell trades as I believe we need to wait for confirmation.
If gold is serious about continuing the bearish trend today, then it need to break the bluish zone on my chart.
If Gold breaks the trend line to the upside and closes above 1748.71. look short buy to 1756 in lower time frame. If it closes below, then we might as well be heading to 1722. Any closure above 1760, please stay away and see how price reacts to 1786.72.
Trade carefully and apply proper risk management.
Regards
I am a bit neutral today though I'm still a bit skewed towards bearish as gold seem to have been consolidating and may be a bit to jump into new sell trades as I believe we need to wait for confirmation.
If gold is serious about continuing the bearish trend today, then it need to break the bluish zone on my chart.
If Gold breaks the trend line to the upside and closes above 1748.71. look short buy to 1756 in lower time frame. If it closes below, then we might as well be heading to 1722. Any closure above 1760, please stay away and see how price reacts to 1786.72.
Trade carefully and apply proper risk management.
Regards
Comment:
Gold closed above 1748 and then the expected scenario has started playing out. We may see gold touch the 1786 zone today and a close above that zone may just open the for 1800-1807
Comment:
The first and third scenarios played out very well here
FINSPOT ACADEMY