In this idea I will explain how to trade gold, now that we have information directly after the market has opened.
Now that the gold market is open again, we can immediately see the bearish trend of the gold price. The price went down about 1% and reached $1720 within only a few hours.
This is an indication to me that the recent uptrend of gold will be over for a while, and that we're looking for a small consolidation.
I charted a scenario here that can monetize this behavior, by using the newly found horizontal resistance area.
If we look at the previous gold idea here with the symmetrical triangle
We can see that the price moved according to the bearish scenario, but didn't go down all the way to the support zone. I suggested to cancel that trade as the technicals are no longer valid, and now suggest to move to the current set-up where with a bearish signal, you should try to get a buy in as high as possible, to maximize your risk reward.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Now that the gold market is open again, we can immediately see the bearish trend of the gold price. The price went down about 1% and reached $1720 within only a few hours.
This is an indication to me that the recent uptrend of gold will be over for a while, and that we're looking for a small consolidation.
I charted a scenario here that can monetize this behavior, by using the newly found horizontal resistance area.
If we look at the previous gold idea here with the symmetrical triangle
We can see that the price moved according to the bearish scenario, but didn't go down all the way to the support zone. I suggested to cancel that trade as the technicals are no longer valid, and now suggest to move to the current set-up where with a bearish signal, you should try to get a buy in as high as possible, to maximize your risk reward.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Trade geschlossen: Ziel wurde erreicht
What a beautiful trade! We can see that the price followed the prediction very closely, and the resistance level of $1740 turned out to be an important one.Congrats to everyone who participated with me in this trade.
Anmerkung
This idea will be continued here with a nice S/R Flip long opportunity: 
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Free crypto scanner on Telegram (35k members):
t.me/CryptoScanner100eyes
t.me/CryptoScanner100eyes
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.