After yesterday drop and can't break resistance, we expected gold to short today. First we see a resistance inside kumo around 1204.71 and resistance level at 1206.44. Find short setup at outside kumo after break level 1201.00 with target price next support around 1193.64 and stop loss at 1204.71.
After price bounce from level 1188.56, it will go to next resistance around 1193.40. You may set stop loss at previous low around 1187.96.
After last week bounce from major support level, it seems gold will going further up.
It's high probability short setup with target price around 1188.56, this level has been tested several times. Set stop loss at this area 1193.45.
If price climbed inside kumo, prepare for long setup when it breaks up the kumo.
After yerterday bounced from major support level 1188.56, the price climbed higher back to key level 1193.64. Today there are resistance area around 1194.97. Wait for go inside kumo and see next what setup.
If go up kumo prepare long setup with target price around 1201.10.
If go down kumo prepare short setup with target price 1188.56.
Set both stop loss at key...
Yesterday high area around 1181.48 was a resistance, now the price go down below kumo so we expected to find short setup. With target price around 1166.49 and stop loss around 1179.20.
Pay attention at major support level and weekly chart. It is possible price stop around this level.
Gold drops yesterday and stop at major support level today. There is high possibilty that still bearish. So there are several points that you may pay attention. If price climbed to inside kumo then be ready to find long setup position, but if price break the level of major support then find short setup position.
I believe everyone had profit yesterday as long as...
Prepare for long setup. Pay attention at level 1196.16, if break this level it is possible price will go up to next resistance area 1201.10. Stop loss set at previous low or support area 1193.39.
Noted that the price still inside kumo.
Pay attention area around 1193.40, this level has been spotted as support so price may test it before breaks down. As you can see there is a thick kumo above price, if it can't get out of upper kumo be ready to see a setup short position.
Also pay attention area around 1188.56, this level is a major support. Let see today where the market going.
Actually we get a little too late to post the analysis, the price has already touch the first target price. The first target is strong support for couple days ago, now If you want to jump to the market set to the second target price around 1201.00 with tight stop loss around 1207.40. Wait for pullback around 1206.35 or maybe even does not the pullback and go way...
The last two days gold has move rapidly sharp, it shown for today has dropped quickly in asia session. We looked up for short position today, pay attention at last resistance around 1209.90. Open short position after pullback this area or break down this level, with target price last low for today around 1206.45 and stop loss around 1211.63. Risk management at least 1:1.
After bounce at resistance 1213.56, price goes down. Key level at 1210.82 to open short position, you can wait to breakout or pullback to its level. Stop loss at recent resistance 1213.56 and target price around 1207.22.
Many trade setup before, price does not pullback that much so you can either enter position after breakout or wait for pullback.
Wait for pullback around area 1213.60 then open short position or look at price action in that area. Target price is around 1209.90 next resistance with stoploss around 1215.60 or use 1:1 for money management. Since today price bounce from resistance 1217.32 which is used from yesterday, the market sentiment is going down.
Price breakout support around 1206.77. Wait for pullback to enter short position with stop loss around 1208.34 act as resistance with target price 1:1 or 1:2, you can set target price at next support area. The market sentiment a couple days ago indicate more seller.