Here is my first chart with short term trade. Its forming bear flag and if it breaks 2005 then there are lot of chances to break 2000 area. In my opinion it can go down from here to 1996-1989.
SL: 2019
TP1: 1996
TP2: 1989
It has touched it day time high 2012 in Asian market and hopefully it will retest 2000 area as well. Dollar is very strong and fed rates are almost faded now. Lets see how much it can go down.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
SL: 2019
TP1: 1996
TP2: 1989
It has touched it day time high 2012 in Asian market and hopefully it will retest 2000 area as well. Dollar is very strong and fed rates are almost faded now. Lets see how much it can go down.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Comment:
Today gold is moving within limited range. Tomorrow is last working day and there could be some recovery or it will move within range. 2000 is still very strong support and it can break it in no time. According to the current situation there are lot of chances for further downward movement. Lets see what happened. Sell position is still valid and its holding 2015 after multiple retest.. Have a nice day
Trade closed: stop reached:
SL hit .... it can go up to 2025-2030. You can sell from 2025-30 with SL of 2038. Sorry trade was not good bcz of limited movement.