This is the overall update from last week.
Price has broken important weekly resistance at 1225. Let's ride the wave and target next monthly resistance about 1238 and 1248 (another weekly resistance). Price can go up to 1225 (0.618 of monthly drop from 1337 - 1122).
Always watch price action before deciding where to totally exit.
Good Luck!
Price has broken important weekly resistance at 1225. Let's ride the wave and target next monthly resistance about 1238 and 1248 (another weekly resistance). Price can go up to 1225 (0.618 of monthly drop from 1337 - 1122).
Always watch price action before deciding where to totally exit.
Good Luck!
Trade active
Consider taking profits here, I am looking at retracement of 1220-1225.Managed your own risk.
Trade closed manually
Gold is trading at 1230 0.5 drop from 1137 to 1122, for those emotional bull, can close position first. Once trade above 1330 can continue long and target 1255.Trade closed manually
I am closing the trade manually because looking at major move of some major currencies and a DXY strong reversal today. That is a coincidence that Gold is at 50% retracement. Better safe than sorry.
We can resume bullish if Gold is trading above 1331~1335 for 1 to 2 days.
As of now, Close all positions.
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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.