What will be next for gold?
This week i adviced to keep selling under 2070 big resistance after confirmation. Although we got some rejections bulls manage to push back to the resistance zone. I told everyone the moment 2070 breaks with confirmation we need to add buys. SO eventually gold broke 2070 and i instantly change strategy to adding buys. WE took great profits from here.
In the bigger picture we had 2085 wich is resistance in smaller timeframe(M30 and H1) Went short but missed our TP by 20 pips. For know 2085 up to 2090 is resistance. If we break above there is only 2100(Psycological resistance) and 2150(Last known high. So that said there isnt much resisance for gold.
Either expecting a pullback from here back to 2070 support. We can buy from here again. Or wait for the drop to 1 of the support trendlines.
I am not willing to sell gold yet. We need proper confirmations, because were trading against the trend...
Resistance: 2085-2090, 2100, 2150
Support: 2070, 2050
In the bigger picture we had 2085 wich is resistance in smaller timeframe(M30 and H1) Went short but missed our TP by 20 pips. For know 2085 up to 2090 is resistance. If we break above there is only 2100(Psycological resistance) and 2150(Last known high. So that said there isnt much resisance for gold.
Either expecting a pullback from here back to 2070 support. We can buy from here again. Or wait for the drop to 1 of the support trendlines.
I am not willing to sell gold yet. We need proper confirmations, because were trading against the trend...
Resistance: 2085-2090, 2100, 2150
Support: 2070, 2050
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Feragatname
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