GOLD Trading Idea & Buy Setup
Updated
Last week, we were Selling gold and made 180 pips almost. Gold closed above 1840.
Technical Analysis:
Gold repeats its cycles. We saw that 1828-1833 worked as a strong supporting level for gold for last few days and also for last few months. Gold got rejected from this level many times and 1856-1861 worked as a very strong resistance level for gold. Several times gold bounced back from this resistance level.
Fundamental Analysis: From Last week's Tuesday, Gold is trying to make a bullish setup. Fed increased interest rate which made a massive movement of gold but could not break the resistance level and came back towards the nearest support. Normally, the trend changes by news and the major news was in the last week but the gold did not break any support or resistance level.
Opinion:
my personal trade is like the make a instant buy after the market open with a stop loss in the nearest support and take profit in the nearest resistance.
Technical Analysis:
Gold repeats its cycles. We saw that 1828-1833 worked as a strong supporting level for gold for last few days and also for last few months. Gold got rejected from this level many times and 1856-1861 worked as a very strong resistance level for gold. Several times gold bounced back from this resistance level.
Fundamental Analysis: From Last week's Tuesday, Gold is trying to make a bullish setup. Fed increased interest rate which made a massive movement of gold but could not break the resistance level and came back towards the nearest support. Normally, the trend changes by news and the major news was in the last week but the gold did not break any support or resistance level.
Opinion:
my personal trade is like the make a instant buy after the market open with a stop loss in the nearest support and take profit in the nearest resistance.
Trade active
20 Pips Running
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