GOLD 23/05: Is there a good entry point?
Updated
GOLD I expect a bounce and it will return to the zone between 1940$ and 1930$Gold price (XAU/USD) failed to defend the immediate support at 1975$ during the Asian session. The precious metal fell sharply as Federal Reserve (Fed) policymakers were confident the central bank would raise interest rates more in its fight against persistent US inflation.
Gold prices are expected to plummet after breaking below the demand zone placed in the 1,955$-1,975$ range on a four-hour scale. The 20-period exponential moving average (EMA) at 1,970$ is acting as an obstacle for Gold bulls.
The Relative Strength Index (RSI) (14) has slipped back into the 20.00-40.00 bearish range, which signals that bearish momentum has been activated again.
Trade active
+30pips✅Note
Everything is still going in the right direction!Trade active
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SELL +200pips✅✅✅Note
It's great to follow the trend and get closer and closer to the finish!!!Trade active
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Still following the strategy, will gold find the old bottom as predicted?Note
Wow amazing. ✅✅
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