GOLD Gold prices print a three-day streak up near 1960$ as the US Dollar remains bearish early Wednesday. In doing so, the precious metal also cheered hopes for more stimulus measures by China and cautious optimism in the market amid Federal Reserve policymakers (Fed). ) no speech due to blackout before FOMC, as well as due to lack of schedule.Gold price depicts an inverse head and shoulders (H&S) chart formation in hourly play.
In addition to the bullish chart pattern, a sustained trade in GOLD beyond the 200 Hourly Moving Average (HMA), currently around 1957$, also keeps buyers hopeful.
I expect the bulls to react strongly today. We will have a gold buying point at 1955$-1958$ And when gold follows the chart we will have a sell order at 1977$-1982$
Stoploss will be around 5 prices per order
Set a reasonable stop loss, we will beat the market together!!
Note
BUY 1955 => 1960. +50pips✅✅Trade closed: target reached
BUY 1955 => 1969. +140pips✅✅
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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.