GOLD BEARISH SCENARIO
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In my last analysis i mentioned that gold was week at the at the $2000 area and that in the coming days we are likely to see price dump to the 1800 level which as we all know price respected that.
Here, i will be giving you two way bearish scenario we may see in days to come.
1. We may see pullback in price of gold due to the test at the 1800 support, institutional investors may find price lower at that point, with this we should see pullbacks these pullback may extend to the black lower trendline now resistance indicated in the chart. hence from that point we may come back bearish again and the volatility may be capable of breaking through 1800 area.
2. If sellers are more stronger we may break the 1800 support move for a retest and down to our 1D structural OB.
BIAS: BEARISH
Make sure you always follow your trading plan regarding entry, risk management, and trade management.
Goodluck!
In my last analysis i mentioned that gold was week at the at the $2000 area and that in the coming days we are likely to see price dump to the 1800 level which as we all know price respected that.
Here, i will be giving you two way bearish scenario we may see in days to come.
1. We may see pullback in price of gold due to the test at the 1800 support, institutional investors may find price lower at that point, with this we should see pullbacks these pullback may extend to the black lower trendline now resistance indicated in the chart. hence from that point we may come back bearish again and the volatility may be capable of breaking through 1800 area.
2. If sellers are more stronger we may break the 1800 support move for a retest and down to our 1D structural OB.
BIAS: BEARISH
Make sure you always follow your trading plan regarding entry, risk management, and trade management.
Goodluck!
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