Gold Analysis and Trade Idea for 04-10-2022
Bearish
- Current price is 1701, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment
Plan A
Sell: 1701.00
SL: 1608
TP1: 1692
TP2: 1690
TP3: 1685
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Bullish
- Market is overall in bullish run
- Gold has broke previous LH
- Gold is over bought
Plan B
Wait for for gold retrenchment to 1684 to go long
1682 is a strong support
Long Gold: Wait for retrenchment to 1684
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
- Current price is 1701, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment
Plan A
Sell: 1701.00
SL: 1608
TP1: 1692
TP2: 1690
TP3: 1685
==========================================================
Bullish
- Market is overall in bullish run
- Gold has broke previous LH
- Gold is over bought
Plan B
Wait for for gold retrenchment to 1684 to go long
1682 is a strong support
Long Gold: Wait for retrenchment to 1684
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
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