GOLD MARKET REVIEW, IS IT BULLISH?
As per the plan, the Gold market moved yesterday. Congratulations to those of you who took the trade! Gold was showing a bullish trend compared to other risk assets like Bitcoin.
I’ve highlighted the key demand and supply zones for you, so you can place your bids or sells according to your trade plans. My approach is that if the price starts to hold Monday’s High as support, that will be my signal to buy and then sell into the supply zone.
However, if the price drops below the Previous Week's High, this will indicate a deviation—or what I like to call a swing failure, as shown on the chart. In this case, I expect Gold to range between the Previous Week High and Previous Week Low until it eventually breaks out of the range.
If the price breaks the range to the downside, it may reach the demand zone at the Previous Month’s Low. If you have any queries you may ask, Follow for more free trade ideas.
I’ve highlighted the key demand and supply zones for you, so you can place your bids or sells according to your trade plans. My approach is that if the price starts to hold Monday’s High as support, that will be my signal to buy and then sell into the supply zone.
However, if the price drops below the Previous Week's High, this will indicate a deviation—or what I like to call a swing failure, as shown on the chart. In this case, I expect Gold to range between the Previous Week High and Previous Week Low until it eventually breaks out of the range.
If the price breaks the range to the downside, it may reach the demand zone at the Previous Month’s Low. If you have any queries you may ask, Follow for more free trade ideas.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.