Gold rebounds from a high level and forms a top. Don’t chase long easily. Gold rebounds are an opportunity to go short.
The four-hour line is an obvious arc top pattern, which means that the upper shadow line is constantly closing, and all the K lines are going down along the moving average, which is an obvious suppression;
So the trading strategy is;
Short gold at 2570-75, target 2550, stop loss 2580
Trade active
SELLTrade active
Waiting for descentTrade closed: stop reached
SL
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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.