Gold suffered a set back this week but was technically expected as it was rejected on the 1,535 top of the Symmetrical Resistance Zone. It did manage to hit our previous 1,528 target as seen below:
This pull back has created the conditions for a Channel Up on 4H and as long as 1D remains neutral (RSI = 51.051, MACD = 6.710, Highs/Lows = 0.0000) the upside will be supported. Notice how there is a potential for a Golden Cross on 4H. Last time that happened was in late May right before Gold had bottomed at 1,260/70 and started its relentless Bull Run that broke through the 5 year 1,370 Resistance.
These parameters are more than enough for us to make us enter a new long trade with 1,550 - 1,557 as our Target Zone.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
This pull back has created the conditions for a Channel Up on 4H and as long as 1D remains neutral (RSI = 51.051, MACD = 6.710, Highs/Lows = 0.0000) the upside will be supported. Notice how there is a potential for a Golden Cross on 4H. Last time that happened was in late May right before Gold had bottomed at 1,260/70 and started its relentless Bull Run that broke through the 5 year 1,370 Resistance.
These parameters are more than enough for us to make us enter a new long trade with 1,550 - 1,557 as our Target Zone.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
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Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.