Orange arrow show where this key level has been used as support and purple arrow shows resistance, we can see price is nearly at this level so we will be waiting for a break or bounce before jumping in this trade again as we had a loss on it yesterday... YES WE HAD A LOSS... WE ARE HUMAN ;p
But our view is that it will bounce and make some movement to the upside...
Today, the indicator "Kenji" on the daily Gold chart generated a buy signal.
Let's give some explanations on this signal.
This is the ordinary signal to open the trade with a basic volume .
According to the indicator, the price of Gold is currently in the active uptrend phase (the area between the fast and slow averages is colored blue). At the same time,...
As seen from the above graph above, the gold tried to break its resistance 3 times without success and stayed within the price range 1277-1296 21 days , Last Friday the Gold succeeded in breaching the resistance and gave it a big rise, and the resistance changes and becomes support, Now his next target is 1344
Entry Price: 1300
Stop Loss: 1290
Take Profit: 1344
Entry: $1225 - $1230
Take Profit 1: $1250
Take Profit 2: $1260
Stop Loss: $1200
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Best of luck!