Gold is at the bottom of a 1 month Channel Up, supported by the S1 (1,969) and on neutral 1D technicals (RSI = 50.472, MACD = 22.040, ADX = 18.645). The triple rejection on the 4H MA50 however on a 4 day span, illustrates substantial short term weakness that may be translated in a stronger correction under the Channel Up and to the 1D MA50.
We are prepared for both scenarios. Our buy trigger will be a candle closing over the 4H MA50 (hasn't happened since April 14th) and we will target the top of the Channel Up (TP = 2,070). On the other hand, a closing under the S1 (and as a result the Channel Up) and the 4H MA200 will be our sell trigger and we will short near the S2 (TP = 1,940).
Prior idea:
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We are prepared for both scenarios. Our buy trigger will be a candle closing over the 4H MA50 (hasn't happened since April 14th) and we will target the top of the Channel Up (TP = 2,070). On the other hand, a closing under the S1 (and as a result the Channel Up) and the 4H MA200 will be our sell trigger and we will short near the S2 (TP = 1,940).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.