Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We are still clearly bearish overall but the 4hour trend is pushing up.
We are close to 1675.00 resistance and we will look for reactions near this zone this week.
Ideally, price action rejects 1675.00 and continues bearish. If this happens look to enter short on clear lower highs.
Trade scenario 2: If we are to consider gold bullish for entries we need to see a higher low above 1675.000
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We are still clearly bearish overall but the 4hour trend is pushing up.
We are close to 1675.00 resistance and we will look for reactions near this zone this week.
Ideally, price action rejects 1675.00 and continues bearish. If this happens look to enter short on clear lower highs.
Trade scenario 2: If we are to consider gold bullish for entries we need to see a higher low above 1675.000