SHORT TERM ANALYSIS:
After a major rally from gold, we can expect Gold to reverse at this point. With RSI heavily in the oversold region, we can catch some pips shorting it.
LONG TERM ANALYSIS:
Gold can potentially go up higher following the retracement. However It may always run sideways after the retracement
Short @ 1073.55
Stop @ 1075.71
T/P @ 1069.77
Happy new years everyone, and please follow and leave a comment for better and improve future analysis!!
After a major rally from gold, we can expect Gold to reverse at this point. With RSI heavily in the oversold region, we can catch some pips shorting it.
LONG TERM ANALYSIS:
Gold can potentially go up higher following the retracement. However It may always run sideways after the retracement
Short @ 1073.55
Stop @ 1075.71
T/P @ 1069.77
Happy new years everyone, and please follow and leave a comment for better and improve future analysis!!
Trade closed: target reached
Gold dipped down as expected, however it just barely missed the take profit
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Related publications
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.