GOLD - Countertrend Short
Gold has been extremely bullish . I am considering a scenario where price consolidates between 1500- 1550 over then next few weeks , with divergence setup between price and momentum that would be bearish.
A short trade would be
1. Considered to enter at resistance near 1550.
2. Stop above monthly R1
3. Target Monthly S1 at 20 MAV.
RR = 4
A short trade would be
1. Considered to enter at resistance near 1550.
2. Stop above monthly R1
3. Target Monthly S1 at 20 MAV.
RR = 4
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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.