Gold: May 20 review (Intraday strategy)
Updated
Gold: May 20 review (Intraday strategy for Gold )
Technical Review:
Gold prices traded $1755.50 range at morning Asian hours.
In last few days, Gold prices traded in both directions like up side and down side. Prices not break below support and resistance levels. If Gold holds above $1749.50 level, we will expect some more rise $7-10, and keep near R1 1764.20(23.6% Fibonacci level). but max resistance level $1775.80(Weekly high), while on the opposite direction if prices break below 20SMA $1719.88. We will see down trend $1692.10(Last week low).
But for intraday trading point of view, make short positions in Gold at cmp.
Expectation of Gold market down more than -2% today from current levels.
Intraday strategy for Gold is given below:
Entry point - $1755.50 - $1758.00
And keep R1 $1775.80
And wait S1 $1719.88
And wait S2 $1700.00
And wait S3 $1692.10
Intraday and Weekly Gold view: Negative trend.
Technical Review:
Gold prices traded $1755.50 range at morning Asian hours.
In last few days, Gold prices traded in both directions like up side and down side. Prices not break below support and resistance levels. If Gold holds above $1749.50 level, we will expect some more rise $7-10, and keep near R1 1764.20(23.6% Fibonacci level). but max resistance level $1775.80(Weekly high), while on the opposite direction if prices break below 20SMA $1719.88. We will see down trend $1692.10(Last week low).
But for intraday trading point of view, make short positions in Gold at cmp.
Expectation of Gold market down more than -2% today from current levels.
Intraday strategy for Gold is given below:
Entry point - $1755.50 - $1758.00
And keep R1 $1775.80
And wait S1 $1719.88
And wait S2 $1700.00
And wait S3 $1692.10
Intraday and Weekly Gold view: Negative trend.
Note
See..…GOLD…..made a low@1739.10 range again today also.....against short@1755.50-1758.00 range yesterday on few hours ago......see yesterday's short call 1st---what next???S1 $1719.88
R1 $1758.00….GOLD.....TODAY....
See…SILVER….made a low@17.610 range again today also.......against short@18.150-18.190 range yesterday on few hours ago.......see yesterday's short call 1st----what next???
S1 $17.125
R1 $18.190…..SILVER......TODAY....
Trade closed: target reached
S1 IN GOLD🎯.......AND S1+S2 IN SILVER🎯🎯......HITTED AGAIN TODAY ALSO---SEE STBT CALL.....-2% IN GOLD🎯........AND -5%🎯🎯 SILVER DOWN IN 2 DAYS----SEE STBT CALL......
See..…GOLD…..made a low@1715.50🎯 range again today also.....against short@1755.50-1758.00 range yesterday on few hours ago......see yesterday's/today's short call 1st---what next???😳
S1 $1692.10
R1 $1758.00….GOLD....
See…SILVER….made a low@17.258🎯🎯 range again today also.......against short@18.150-18.190 range yesterday on few hours ago.......see yesterday's short call 1st----what next???😳
S1 $16.890
R1 $18.190…..SILVER.....
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