Gold reached a harmonic Resistance, previously being a Support.
During the uptrend such levels when tested as Supports and held, extended the uptrend.
If we are on a new downtrend, this level has to hold.
Trading Plan:
1. Sell as long as the price is below the harmonic Resistance (white line).
2. Buy is it crosses above the MA50 (1D).
Targets:
1. 1960 (Resistance 1).
2. 1780 (MA200 1D) and 1740 (lower liquidity level).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
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During the uptrend such levels when tested as Supports and held, extended the uptrend.
If we are on a new downtrend, this level has to hold.
Trading Plan:
1. Sell as long as the price is below the harmonic Resistance (white line).
2. Buy is it crosses above the MA50 (1D).
Targets:
1. 1960 (Resistance 1).
2. 1780 (MA200 1D) and 1740 (lower liquidity level).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
Please like, follow and comment!!
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.