ProCFDTrader

Gold price action Indicates uncertainty, possible pullback?

FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD has once again printed a long-legged Doji Candlestick in the daily chart which indicates confusion among the market participants.

At this point, it is possible to see some sort of minor pullback in Gold .

This is definitely NOT a recommendation to SELL.

However, if Gold continues to struggle around the 1680 area, sellers can consider adding a couple of sells (small lot size) between 1674-1680 with SL above 1698 provided price action in lower TFs indicate bearishness. TPs can be set at 1640, 1620 and 1590.

Trade closed: target reached: Reached final target at 1590 as well

Comments

Thank you
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The only one confused is this guy
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Nice analysis
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Creative analysis
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But i think because of covid-19affection in the world & oil price drop (economic war between (Russia+IRAN) and(USA+UAE)) yellow metal price rise to $1900 and it will break its resistance and it ready to rise to $2400
what do you say about my idea😉
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Great work
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nice chart.good analysis
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Good analysis !! Here is Our POV

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thanks for sharing this
+1 Reply
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