Yesterday gold has very high volume and was not able to sustain the levels near 1880 because of high selling pressure.
However yesterdays daily candle gave a confirmation for the breakout of long term trendline since price rose to 2000 in March 2020. So I expect gold to be bullish in coming days too with base price near 1840 if price is able to sustain above this.
Yesterday's fall was a test for this support for trendline near 1844 and price was able to maintain this level. There is very high volume after the price fell 1844. This is good indication that price will reverse in next days.
However the news is still uncertain and price can go any direction. So I suggest to trade only with stop loss.
Today my trading ideas are
BUY 1852 SL 1842 TP 1865 (scalp)
However yesterdays daily candle gave a confirmation for the breakout of long term trendline since price rose to 2000 in March 2020. So I expect gold to be bullish in coming days too with base price near 1840 if price is able to sustain above this.
Yesterday's fall was a test for this support for trendline near 1844 and price was able to maintain this level. There is very high volume after the price fell 1844. This is good indication that price will reverse in next days.
However the news is still uncertain and price can go any direction. So I suggest to trade only with stop loss.
Today my trading ideas are
BUY 1852 SL 1842 TP 1865 (scalp)
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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.