Based on last day closed price of Gold, it formed a pattern that we called as Bearish Engulfing.
This pattern is a sign for reversal pattern, and today's close will be the confirmation candle.
@1274.50 ( 0.236% Fibonacci Retracement ) is also become a key level that we must anticipate today.
If it close above it, there might be a chance that this price is create another higher low.
Which is it also a false breakout, and Buyers will keep control the market.
*Last week I initiated a Long Position Buy @1264 and put my Stop Loss @1250.
And yesterday I just moved my Stop Loss @1272.
But today I've decided to close my position @1275 with profit around $11.00 or $1.100 per contract.
Right now I'm in neutral stance, wait and see is the best option for this time.
Anticipate the Bearish Engulfing and also Geopolitical Tension.
No dialog between USA and North Korean, doesn't mean it's just end.
Good luck and keep safe.
Happy trading.
Leave your commend below and please click " Like " if you see this analysis helpful.
Thanks!!!
This pattern is a sign for reversal pattern, and today's close will be the confirmation candle.
@1274.50 ( 0.236% Fibonacci Retracement ) is also become a key level that we must anticipate today.
If it close above it, there might be a chance that this price is create another higher low.
Which is it also a false breakout, and Buyers will keep control the market.
*Last week I initiated a Long Position Buy @1264 and put my Stop Loss @1250.
And yesterday I just moved my Stop Loss @1272.
But today I've decided to close my position @1275 with profit around $11.00 or $1.100 per contract.
Right now I'm in neutral stance, wait and see is the best option for this time.
Anticipate the Bearish Engulfing and also Geopolitical Tension.
No dialog between USA and North Korean, doesn't mean it's just end.
Good luck and keep safe.
Happy trading.
Leave your commend below and please click " Like " if you see this analysis helpful.
Thanks!!!
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.
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.