We need to watch how gold handles the 3137 level, which is acting as strong resistance. At the moment, it’s neither a buy nor a sell.
For a buy, the upside is too low—the risk-reward ratio isn’t great. For a sell, there’s no confirmation for a short yet.
On both the daily and weekly charts, there’s still no confirmation for either a long or a short. So for now, we observe and wait for a potential setup to form.
If you didn’t participate in this rally, don’t get hung up on it! There have always been and will always be new opportunities to make money in the market. The key is to stick to your plan, look for the best and safest setups—those with high upside and low risk. Learn to wait for your trades. There are days and even weeks when it’s better not to trade. But then, boom—your clear and solid setup appears, and you make money on it.
For a buy, the upside is too low—the risk-reward ratio isn’t great. For a sell, there’s no confirmation for a short yet.
On both the daily and weekly charts, there’s still no confirmation for either a long or a short. So for now, we observe and wait for a potential setup to form.
If you didn’t participate in this rally, don’t get hung up on it! There have always been and will always be new opportunities to make money in the market. The key is to stick to your plan, look for the best and safest setups—those with high upside and low risk. Learn to wait for your trades. There are days and even weeks when it’s better not to trade. But then, boom—your clear and solid setup appears, and you make money on it.
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.
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.