NFP is in a few hours.
Gold has broken down from the ascending channel and the market structure has changed to bearish.
In lower time frames Gold is moving in a tight range in a bear flag.
During NFP we could expect one of two scenarios.
First, we could get a slight push up to 1795-97 Zone and a drop after that. Or the second we could get a slightly deeper retracement above 1800- 1808 Zone before Gold continues with the bearish momentum.
D1 Candle body Close above 1820 will negate the bearish outlook.
We are bearish on Gold and will use any retracements to take short positions up until 1815.00
1770 and 1760 are downside targets.
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Trade Safe and manage your risk. Everything we share is not financial advice.
Gold has broken down from the ascending channel and the market structure has changed to bearish.
In lower time frames Gold is moving in a tight range in a bear flag.
During NFP we could expect one of two scenarios.
First, we could get a slight push up to 1795-97 Zone and a drop after that. Or the second we could get a slightly deeper retracement above 1800- 1808 Zone before Gold continues with the bearish momentum.
D1 Candle body Close above 1820 will negate the bearish outlook.
We are bearish on Gold and will use any retracements to take short positions up until 1815.00
1770 and 1760 are downside targets.
Please follow
Hit the like button
Share your thoughts and leave a comment.
Thank you for your support🙏🙏🙏
Trade Safe and manage your risk. Everything we share is not financial advice.
