As I said yesterday, the price continues to rise after fixing at the support line 1685.17, which occurred at the end of March.
This move is part of a long-term falling channel that formed last August at 2069.81, as investors began to sell gold en masse.
Falling in the channel, the price came to the strong support point 1675.65. Where the channel line and the July 2019 support line intersect. The price jumped from this point, but failed to rise to the resistance trend line and fell back to the support at 1685.17.
Since the price has already started to rise from this line, I expect it to continue to rise and first come to the resistance line of 1765.00. And then it will drop to support 1701.50. This will be our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
I understand your position, but it seems to me that the appraisal will not be able to start growing.
Do you remember she stood in this zone for almost two weeks in March?
I think the price will start dropping right away.
Solldy
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As I understand it is best to sell when the price touches the resistance line? There was a big breakdown in January, so I want to play it safe! What is the best SL? Thanks for the great idea!
UnknownUnicorn15614419
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Thanks for your hard work friend! I have a similar view - I also see this strong resistance around 1763!
This is my idea for gold.
TradingAlchemist
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us has already been adopted package of financial assistance for population in amount of 1.9 trillion. dollars. Iwant hear that biden will tell about future plans for allocation additional trillion dollars for health care, education, residential sector and other sectors of the economy. gold will strengthen or weaken?
safwan_daud
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Looking usd strength, u are right. FOMC is coming in few hours!!
sitokekbundle
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sell if candle break 1735.8 and form new candle below that point...do pending order not direct execute....just my 5 cent idea....trade at your own risk...tq.
salahhadary7
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Hiiiiiiiii
I sold at 1738
It will drop or what
fahdahallab10
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stop sold , coz it will continue till 1770
sitokekbundle
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@salahhadary7, i will hold because LL already break at 4h got hanging man and i believe it show reversal
Do you remember she stood in this zone for almost two weeks in March?
I think the price will start dropping right away.