Simple analysis for Gold to continue dropping to the Supply Zone @1828.
Confirmation.
1. Breaking Support once again @1838.50 Closing below it and rejected afterwards.
2. Retest and rejected.
3. EMA's Acting as resistance both (9&21) Keeping the sellers momentum strong.
4. USD seems to possibly gain strength showing signs of reversal for EURUSD and USDJPY. Giving me a feeling it will continue dropping.
CONS: Since this is the last day of the week buyers may want to close this candle with a wick so can get stopped out.
NOTE: Very SMALL RISK
Confirmation.
1. Breaking Support once again @1838.50 Closing below it and rejected afterwards.
2. Retest and rejected.
3. EMA's Acting as resistance both (9&21) Keeping the sellers momentum strong.
4. USD seems to possibly gain strength showing signs of reversal for EURUSD and USDJPY. Giving me a feeling it will continue dropping.
CONS: Since this is the last day of the week buyers may want to close this candle with a wick so can get stopped out.
NOTE: Very SMALL RISK
Comment:
Trade is now risk free after dropping 20 pips+
Trade closed manually:
TRADE HIT RISK FREE, OUT going to bed since its 10:36pm. Rather wake up to NY session with no open trades.