Gold in resistance zone, time for a sell?1000 Pips potential!
Updated
Hello traders, XAU/USD has pulled back after hitting the resistance zone.
At the moment, Gold is around 2065. Looking at the daily chart, I believe
there is room for further decline in XAU/USD.
I am looking for a sell entry in Gold@2072-2085 with Stop loss above the resistance
and TP at 1982. If this takes place, this trade can generate over 1000 pips
in profit.
If price breaks above the resistance at 2090, this set-up would be invalid.
At the moment, Gold is around 2065. Looking at the daily chart, I believe
there is room for further decline in XAU/USD.
I am looking for a sell entry in Gold@2072-2085 with Stop loss above the resistance
and TP at 1982. If this takes place, this trade can generate over 1000 pips
in profit.
If price breaks above the resistance at 2090, this set-up would be invalid.
Note
Gold has dropped 70 pips since I made this postNote
Big drop, more than 200 Pips nowNote
Gold is below the resistance now, if this stays below it, expect more fall
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.