Analysis and trading advice for gold next week!
Updated
Good weekend, trader
General:
Strong bearish trend on daily and 4h. however, 1h there is a pullback.
Now,
let's observe how would gold act during Asian time tomorrow, especially, how would it 2300-2314 before it breaks 2314, there is no break of structure on the 5mins level, so no buy.
Only looking for chances to sell. And with all sell, a safer stop loss would be 2314.5. Unless, the price drops directly when market opens.
I think there is an opportunity for gold to go back to 2330 area, — which is a good area for sell orders.
Let's see how gold plays out next week. I am mainly looking for short opportunities, but if the uptrend revitalize, it would join as well.
i always enter at 5m, or even 1m.
General:
Strong bearish trend on daily and 4h. however, 1h there is a pullback.
Now,
let's observe how would gold act during Asian time tomorrow, especially, how would it 2300-2314 before it breaks 2314, there is no break of structure on the 5mins level, so no buy.
Only looking for chances to sell. And with all sell, a safer stop loss would be 2314.5. Unless, the price drops directly when market opens.
I think there is an opportunity for gold to go back to 2330 area, — which is a good area for sell orders.
Let's see how gold plays out next week. I am mainly looking for short opportunities, but if the uptrend revitalize, it would join as well.
i always enter at 5m, or even 1m.
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