Short Gold
Entry: 1299.05
SL: 1313.15
TP1: 1266.25
TP2: 1254.75
Market reacted above descending wage support with price closing above EMA (21).
MACD still in bearish territory however, showing a golden cross signalling a possible reversal.
Wait for a pullback to short below 1299.05 where also happens to be descending range resistance.
Entry: 1299.05
SL: 1313.15
TP1: 1266.25
TP2: 1254.75
Market reacted above descending wage support with price closing above EMA (21).
MACD still in bearish territory however, showing a golden cross signalling a possible reversal.
Wait for a pullback to short below 1299.05 where also happens to be descending range resistance.
Note
Gold 1st target reached. Most likely will see a small reaction at the 1266.25 level before another leg lower
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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.