GOLD has been one of the market’s big stories today, breaking out above the 1959.0 level. However, the bidding quickly subsided and prices are back near 1950.0. There is a nice wave set up on the 30-minute GOLD chart and a possible selling opportunity:
Weekly 38% Retracement, 1959.67
30-Minute 78% Retracement, 1960.76
Here's the trade, good until the end of the day:
1) Sell 1958.0
2) Profit Target @ 1952.0
3) Stop Loss @ 1965.0, 1:1 risk vs reward ratio
Weekly 38% Retracement, 1959.67
30-Minute 78% Retracement, 1960.76
Here's the trade, good until the end of the day:
1) Sell 1958.0
2) Profit Target @ 1952.0
3) Stop Loss @ 1965.0, 1:1 risk vs reward ratio
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.