After almost 7 weeks in a row on rallied from around 1238 to 1365 then the bulls showed a bit tired last weekend.
We can see the rejection candle pretty clear on daily chart when the price of Gold has gone above all time high from 2017 (1357.37) and below all time high from 2016 (1374.70).
I’m going to wait for it react with 1325-1344 before joining the bears.
We can see the rejection candle pretty clear on daily chart when the price of Gold has gone above all time high from 2017 (1357.37) and below all time high from 2016 (1374.70).
I’m going to wait for it react with 1325-1344 before joining the bears.
Trade active
After broke out the up-trend Gold had gone back to retested the trend with sell signal on H4 timeframe. So I joined the bear at this point. Let's see how low it can go.Note
XAUUSD has been moving in my favor.Note
Gold reacting with broken down trend. Watch out for this critical point and trail you Stop Loss to protect your profit. Trade closed manually
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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.