Gold Outlook - 18 October 2019
Hi Guys,
May all have a great trade yesterday...
As for today, refering to the chart below (H4), I can see that gold is making a bullish pennant pattern... A break above or below the orange line will drive further movement...
https://www.tradingview.com/x/pdKl0T9p/
Looking at the H1 chart, gold still hovering around the mid point (1495) even with crazy movement yesterday...
https://www.tradingview.com/x/nvuM66WC/
At this point, my bias is neutral... Brexit deal is a go... Thus, expect gold to be volitile downwards... Key point to monitor are 1475 (support) and 1509 (resistance)... Break in any direction would results to a big movement...
As for today, my suggestion are as follows;
1. Set SELL limit 1474 with TP 20/30 points
2. Set BUY stop at 1510 with TP 20/30 points
3. Scalp between 1475 - 1509 range with close monitoring on candle movement and pattern
4. Trade after China data released
All the best... Trade safe...
May all have a great trade yesterday...
As for today, refering to the chart below (H4), I can see that gold is making a bullish pennant pattern... A break above or below the orange line will drive further movement...
https://www.tradingview.com/x/pdKl0T9p/
Looking at the H1 chart, gold still hovering around the mid point (1495) even with crazy movement yesterday...
https://www.tradingview.com/x/nvuM66WC/
At this point, my bias is neutral... Brexit deal is a go... Thus, expect gold to be volitile downwards... Key point to monitor are 1475 (support) and 1509 (resistance)... Break in any direction would results to a big movement...
As for today, my suggestion are as follows;
1. Set SELL limit 1474 with TP 20/30 points
2. Set BUY stop at 1510 with TP 20/30 points
3. Scalp between 1475 - 1509 range with close monitoring on candle movement and pattern
4. Trade after China data released
All the best... Trade safe...
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.