Price is now below the 4 Hour 50ema since the beginning of August and failing to make new higher high's.
With buying momentum fading, I will be waiting for price to print a new lower low and close below support of 1494.50 (full 4 hour body closure) to confirm the new direction.
Safest entry can be taken upon a retest of the neckline (support turned resistance @ 1494.50).
We know from experience that Gold has long periods of consolidation followed by high momentum impulsive moves.
Downside targets are 1452.75 and 1400.00.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
With buying momentum fading, I will be waiting for price to print a new lower low and close below support of 1494.50 (full 4 hour body closure) to confirm the new direction.
Safest entry can be taken upon a retest of the neckline (support turned resistance @ 1494.50).
We know from experience that Gold has long periods of consolidation followed by high momentum impulsive moves.
Downside targets are 1452.75 and 1400.00.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
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.