Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on gold for this week but we’re not yet sure if we’ll be able to find a high probability trade setup, it all depends on price action this week.
For us to continue trading bearish we need to see structure form. A lower high close to 1740.00 resistance and our 38.2% fib level would be ideal.
Trade scenario 2: If we are to consider gold bullish we would need to see a break back above 1740.00 with a confirmed higher low.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on gold for this week but we’re not yet sure if we’ll be able to find a high probability trade setup, it all depends on price action this week.
For us to continue trading bearish we need to see structure form. A lower high close to 1740.00 resistance and our 38.2% fib level would be ideal.
Trade scenario 2: If we are to consider gold bullish we would need to see a break back above 1740.00 with a confirmed higher low.
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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.
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.