Gold Spot / U.S. DollarUpdated Analysis and trading advice for gold next week!
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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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.