In addition to my previous idea: We have a bearish channel on gold, price is close to the upper limit, and we have a strong bearish cypher. This is definitely a short. Convergence of these indicators makes this trade fairly safe.
Fundamentals - Watch for FOMC news and US Consumer confidence index publication during the week - These could impact the U.S dollar. But overall, no sign of a strong depreciation of the US dollar, therefore, trade seems safe.
Aim for an entry around 1350. I personally use Ichimoku on a smaller time-frame (15m/30m) and watch for a cloud break to enter the trade.
!!! Trade canceled if price breaks upper limit!!!
Fundamentals - Watch for FOMC news and US Consumer confidence index publication during the week - These could impact the U.S dollar. But overall, no sign of a strong depreciation of the US dollar, therefore, trade seems safe.
Aim for an entry around 1350. I personally use Ichimoku on a smaller time-frame (15m/30m) and watch for a cloud break to enter the trade.
!!! Trade canceled if price breaks upper limit!!!
Note
Getting ready to enter the trade, probably around 1354-1356.Trade active
Entered the trade at 1354.80.
Note
Price testing the 1341.18 resistance. Bounce might occur but is unlikely.
Note
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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.