As what have been analyzed on weekend, gold price moved as to the direction that we expected.
For now, we will not enter any entry on gold until gold break below the current support or which much preferably to retest the trendline as indicated above. If so, we can look for a sell at 1720 as that is the previous support which may turn into the resistance.
Do note that if such scenario happened, head and shoulder will be formed and it is a sign of bearish move. So we will have a closer look at 1720 for potential short entry.
Entry price: 1720.00
SL: 1730.00
TP: 1695.00
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
For now, we will not enter any entry on gold until gold break below the current support or which much preferably to retest the trendline as indicated above. If so, we can look for a sell at 1720 as that is the previous support which may turn into the resistance.
Do note that if such scenario happened, head and shoulder will be formed and it is a sign of bearish move. So we will have a closer look at 1720 for potential short entry.
Entry price: 1720.00
SL: 1730.00
TP: 1695.00
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
Comment:
Unfortunately price has broke above the trendline and break above 1720. Will be monitoring the direction of gold for another potential entry. Stay tuned.
