The price of gold (XAU/USD) faced selling pressure around $1,917.50 during the European session. After a brief decline, the precious metal is expected to drop further to an intraday low at $1,910.00. The sell-off in gold was triggered by the positive performance of the US Dollar Index (DXY).
S&P500 futures have extended the significant losses seen in the Asian...
Double bottom price action on the GDXJ
Price of the double bottom also hitting S/R zone of the previous 4 year base break-out.
Does this indicate a reversal in the last 12 month pull-back and the start of a new break-out?
Start Trading at the supply zone of Gold. The bearish trend may set up but not a big drop yet. Anyway we will wait next week data analysis where will the confirm market trend. Risk Management with the right position sizing is recommended for every traders.
Have a nice day week trade.
Based on Trend Buy and Sell Indicator (TBS), Gold is in uptrend identified by 100 week ma. In the next few weeks TBS is suggesting a pull back into 30 week ma which has proven to be a good support level historically in uptrend.
For this chart I have used parameters suggested i.e Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1,...
