XAU/USD downtrend intact, will sell the rallies
Hello traders, if you have been following me over the last few weeks,
you already know that I sold Gold at 2004 level around a week
ago when prices spiked up. Since then, I have been selling the rallies.
Profit has also been taken on the previous sell@1965 and closed at 1938.
Currently, in the 4-hour chart, the price action is still bearish. In fact, the focus
has now shifted to the 1920 key level. However, I am not putting any new sells
at this level. In case Gold spikes to the 4-hour resistance around 1960, I would
consider placing fresh sell again.
you already know that I sold Gold at 2004 level around a week
ago when prices spiked up. Since then, I have been selling the rallies.
Profit has also been taken on the previous sell@1965 and closed at 1938.
Currently, in the 4-hour chart, the price action is still bearish. In fact, the focus
has now shifted to the 1920 key level. However, I am not putting any new sells
at this level. In case Gold spikes to the 4-hour resistance around 1960, I would
consider placing fresh sell again.
Comment:
Lack of volume keep the price ranges low for trading, however chances of a fall to 1920 is increasing
Comment:
Still waiting to see if we can get a spike to 1958-1960
Comment:
Placed sell limit@1958
Comment:
CPI data later today can lead to some volatility
