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Lingrid
May 5, 2021 11:26 AM

GOLD FALL after false breakdown of RESISTANCE lineΒ Short

Gold / U.S. DollarFOREX.com

Description

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As we expected last time, the price began to fall.

Let me remind you that after a rebound from the strong support line 1684.09 in March of this year, the price increased significantly and was able to come to the resistance line of August 2020 at 1780.51. For the last two weeks, the price has been moving along this line, making breakout attempts. But these are only false breakouts. I expect that after the last of these breakouts the price will return to the decline, break the line at 1763.89 and return to strong support. So my final target is support line 1717.34.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be gladπŸ‘©β€πŸ’»
Comments
OSCAR1253
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same here boss,I took my tp @1724
Lingrid
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@OSCAR1253, okey, my target is support line 1717.34)
jayman.b.patel
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It’s rising as we speak
ASFAND_GOLD
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im with you in this trade i took fro. 1792
my trailing stoploss is 1787
with tp 1720
Lingrid
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@ASFAND_GOLD, thanks for sharing your trading position)
I am very pleased
kitdigital
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Watch nonfarm day, price can reverse today towards 1723 level in a short period of time, then it is a buying opportunity.
kitdigital
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habibkamali
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nice move
Lingrid
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@habibkamali, thank you)
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