Gold "bears" trade setup targeting 1660 area
Technical:
1. Gold has been in steady uptrend channels for 9 trading days, but the recent price action overlapping the upside channel suggests that the correction is due. In addition, the 2 times rejection shown on chart also add to our short-term bearish bias.
2. The room of corrective moves in gold is seen to touch 1660 - 1665 area.
Trade ideas:
We generate the low-risk trade idea of shorting gold at current market price at 1178.
S/L: 1186
T/P: 1163
Risk to reward ratio = > 1:2
1. Gold has been in steady uptrend channels for 9 trading days, but the recent price action overlapping the upside channel suggests that the correction is due. In addition, the 2 times rejection shown on chart also add to our short-term bearish bias.
2. The room of corrective moves in gold is seen to touch 1660 - 1665 area.
Trade ideas:
We generate the low-risk trade idea of shorting gold at current market price at 1178.
S/L: 1186
T/P: 1163
Risk to reward ratio = > 1:2
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.