Plan A
Sell stop: 1658.00
SL: 1670
TP1: 1648
TP2: 1640
TP3: 1620
Bearish
- Current price is 1660, weekly high pressure
- Mostly news are coming bad for gold
- Gold is bearish, according to the daily chart.
- Monthly candle is overall bearish and can slip further down.
Gold's bearish trend is strong and gold is near HL. entry at 1658 can be traced till new LL which will be around 1607
October is bad for gold in past 10 years history, which is also a strong indication to go short.
Friday daily candle indicating bearish trend as well.
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Plan B
Wait for candle chart to give indication of going up over 1660.
1660 is a defining point.
Long Gold: Wait for next call
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
Bullish
- As Per 4H chart Gold can move further up
- Gold is above 200 SMA
- 1670 Strong resistance level
Sell stop: 1658.00
SL: 1670
TP1: 1648
TP2: 1640
TP3: 1620
Bearish
- Current price is 1660, weekly high pressure
- Mostly news are coming bad for gold
- Gold is bearish, according to the daily chart.
- Monthly candle is overall bearish and can slip further down.
Gold's bearish trend is strong and gold is near HL. entry at 1658 can be traced till new LL which will be around 1607
October is bad for gold in past 10 years history, which is also a strong indication to go short.
Friday daily candle indicating bearish trend as well.
==============================================================================================================================================================
Plan B
Wait for candle chart to give indication of going up over 1660.
1660 is a defining point.
Long Gold: Wait for next call
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
Bullish
- As Per 4H chart Gold can move further up
- Gold is above 200 SMA
- 1670 Strong resistance level
