Gold Analysis 10.01.22
The price is still ranging between 1796 and 1786 levels.
The Lower High at 1829 indicated about the Lower Low. From friday chart we can see the Lower Low as 1786.
So price needs to climb to form the next Higher Low which can be 1808 - 1818 marked with ellipse.
However price may test the 1786 level once again before going to form this lower high.
I suggest to go long with SL at 1778 and wait for 4h candle to close above 1796 with confirmation if you wish to enter above 1792 price. Otherwise if there is pullback to 1788 then it is the best entry today.
Please share your thoughts
The Lower High at 1829 indicated about the Lower Low. From friday chart we can see the Lower Low as 1786.
So price needs to climb to form the next Higher Low which can be 1808 - 1818 marked with ellipse.
However price may test the 1786 level once again before going to form this lower high.
I suggest to go long with SL at 1778 and wait for 4h candle to close above 1796 with confirmation if you wish to enter above 1792 price. Otherwise if there is pullback to 1788 then it is the best entry today.
Please share your thoughts
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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.