VietnamGold
Short

GOLD - Retest of Trend Line

FX:XAUUSD   Gold/U.S. Dollar
5 months ago
Gold             is retesting the trend line that was broken down when gold             dropped to 1330 support level . Currently this support at 1330 holds and gold             is re-bouncing to 1340-ish. If gold             manages to close above the trend line , it will be a bullish signal. If not, gold             will likely drop further to the next support level at 1310. You can see the resistance area (red) is around 1342-1345. While the support zone (yellow) is around 1307-1310. I believe the downtrend will continue if gold             can't hold above 1350. Here is my trade plan:
- Sell limit at 1343             .
- Stop loss above 1350 (on daily close)
- Take profit at 1310.

Stay Tuned !
5 months ago
Trade active: Order was hit at 1343. If today price closes above 1350, I will exit with a small loss.
5 months ago
Comment: Gold did overshoot a little bit to the upside, 1357 to be exact but soon found sellers at that zone and has retraced to 1345. My trade is still valid. This is why you want to see a daily close today and decide if you wanna get out instead of having a definite stop loss at spot price above 1350, you would likely be stopped out already.
If today price closes under 1345, it would signal that price tries hard to climb back to the trend line but failed.
All that glitter is not gold !
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out