Following on from our idea on may 2nd - Gold has fallen further and has now replicated a move lower it did in early 2021.
It has hit 0.707 and is at support.
We could look for a small quick buying opportunity. I say small and quick because beyond that we could be heading lower.
Check it out on the weekly....
It has hit 0.707 and is at support.
We could look for a small quick buying opportunity. I say small and quick because beyond that we could be heading lower.
Check it out on the weekly....
Note
On the daily we see that price has hit a 2 (purple ext) and we have a buying tail.Here we can give it our first attempt...
Note
We should consider ourselves lucky and very satisfied.Taking profits
Note
Yesterday's daily candle is a very significant reversal and one can expect that price will move higher from here. I am leaving some money on the table for this. We have taken some profits and we should not have a losing trade with this so whatever is left on the table will have SL moved to at least break even!
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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.