Gold weekly out look
Price closed as a more indecision candle stick
respecting the 20SMA and also the .618 fib level
So Im going to be very cautious trading gold as
it is in a strong level of weekly S/R
Daily: is still in a very strong bullish trend
respecting daily S/R level a bit concercing how
it respecting the 50sma as a level of resistance
H4: price is looking like a solid buy 3 big wicks
showing respect to broken resistance now
holding as a level of support also rejecting the
20SMA and .618 on fibs
H1: Waiting for some form of a pull back
into minor S/R levle to give me a Break of
structure on the smaller tfs has already
given me a double bottom now for a possible
retest of broken neckline
Price closed as a more indecision candle stick
respecting the 20SMA and also the .618 fib level
So Im going to be very cautious trading gold as
it is in a strong level of weekly S/R
Daily: is still in a very strong bullish trend
respecting daily S/R level a bit concercing how
it respecting the 50sma as a level of resistance
H4: price is looking like a solid buy 3 big wicks
showing respect to broken resistance now
holding as a level of support also rejecting the
20SMA and .618 on fibs
H1: Waiting for some form of a pull back
into minor S/R levle to give me a Break of
structure on the smaller tfs has already
given me a double bottom now for a possible
retest of broken neckline
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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.