Gold Daily Analysis 13.09.2022
Gold is in a uptrend value zone making small highs and lows.
Today Gold may test the resistance at 1743.
Present 1728 is weekly resistance. So we can expect any reversal from here if bulls are weaker. If price is able to sustain above this level in daily candle we will have this as support in next week.
Today we have important news in US time. So expect price to test its support or resistance levels then. If gold breaks the present value zone then it means a change in trend. The present uptrend value zone is formed recently and may not be strong. So dont go for longterm short even if price goes below this value zone.
The present setup is suggesting good reversal considering the double bottom formed in daily and 4 hour charts.
My trading idea for today
BUY 1718 SL 1708 TP 1742
Today Gold may test the resistance at 1743.
Present 1728 is weekly resistance. So we can expect any reversal from here if bulls are weaker. If price is able to sustain above this level in daily candle we will have this as support in next week.
Today we have important news in US time. So expect price to test its support or resistance levels then. If gold breaks the present value zone then it means a change in trend. The present uptrend value zone is formed recently and may not be strong. So dont go for longterm short even if price goes below this value zone.
The present setup is suggesting good reversal considering the double bottom formed in daily and 4 hour charts.
My trading idea for today
BUY 1718 SL 1708 TP 1742
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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.