Gold Analysis - Top Down
As Gold has reached its all time high, and still in Bullish trend. We are likely to see it more bullish.
Buying Scenario:
1- As Weekly candle Closed bullish breaking Resistance.
2- Impulse Buying can be expected above 2400 closing.
Selling Scenario:
1-In Smaller TF, Rejecting from the 2395.
2- Fib Retracement from previous Swing low, Sell Side Liquidity, and Trendline. These major confluences can bring Gold down towards 2373.
Good Buying opportunity from 2373-2375.
Note: Manage risk according to our Account size and always put Stoploss
Buying Scenario:
1- As Weekly candle Closed bullish breaking Resistance.
2- Impulse Buying can be expected above 2400 closing.
Selling Scenario:
1-In Smaller TF, Rejecting from the 2395.
2- Fib Retracement from previous Swing low, Sell Side Liquidity, and Trendline. These major confluences can bring Gold down towards 2373.
Good Buying opportunity from 2373-2375.
Note: Manage risk according to our Account size and always put Stoploss
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