In my previous GOLD idea, I mentioned about SELLING at 1357 which was very profitable and generated more than 250 pips.
In the past few days, XAUUSD is struggling at the multi-year Resistance ZONE(Red area in the chart).
So, traders can look for SELL Entries in 1352-1360 area with SL above 1365. TPs can be set at 1344, 1331 and 1310 respectively.
I believe Gold will drop when we an improved RISK APPETITE in the market. Perhaps, some favorable US-China trade talks will lead to optimism in the stock markets and will send Gold prices down.
In the past few days, XAUUSD is struggling at the multi-year Resistance ZONE(Red area in the chart).
So, traders can look for SELL Entries in 1352-1360 area with SL above 1365. TPs can be set at 1344, 1331 and 1310 respectively.
I believe Gold will drop when we an improved RISK APPETITE in the market. Perhaps, some favorable US-China trade talks will lead to optimism in the stock markets and will send Gold prices down.
Trade closed: stop reached:
Closed with -90 pips. Price went right through Resistance
