Gold update on 4H - two possible movements - how to trade
Updated
Dear traders and followers,
the Gold price broke and closed above 1980 $ resistance which now changed to support. Price reached short term trend line and support area. Expect buyers entering the market.
If the price doesn´t break under this support within the next 24 hours --> this is a buy confirmation with target at 2045 $
If the price break and close under 1975 $ on 4 hour chart --> this is a sell confirmation with target at 1912 $
Indicators:
MACD --> baselines near bearish crossing and the volume is near 0 line and could switch into sell volume --> sell signal
Bollinger Bands --> moving up and price closed several times above baseline --> buy signal
Relative strenght index --> seems to go back into up movement --> buy Signal
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Thanks for your support !
the Gold price broke and closed above 1980 $ resistance which now changed to support. Price reached short term trend line and support area. Expect buyers entering the market.
If the price doesn´t break under this support within the next 24 hours --> this is a buy confirmation with target at 2045 $
If the price break and close under 1975 $ on 4 hour chart --> this is a sell confirmation with target at 1912 $
Indicators:
MACD --> baselines near bearish crossing and the volume is near 0 line and could switch into sell volume --> sell signal
Bollinger Bands --> moving up and price closed several times above baseline --> buy signal
Relative strenght index --> seems to go back into up movement --> buy Signal
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
Trade active
Market broke the 1975 $ support and closed under it. Short sellers are already in Profit. Hold till target at 1912 $ market going to reach it until tomorrow eveningTrade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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