After yesterday's up move price had retested an important resistance of 4435 and has retraced form there, currently taking support of 4371 (immediate resistance) which is at the vicinity of rising trendline, which may result into additional bullish pressure.
If you zoomed-out a bit you'll see each consecutive up-moves after the corrections in this uptrend is continuously declining, which signals weakening of the trend and may show some deeper correction. We should be actively looking for some swing failure (where it fails to breach previous swing high) or breakdown of some important support to initiate short entries.
Immediate support is at 4348 and below that 4310 is an important support if breached we can think for shorting, resistance is at 4435 (Previous swing high).
without confirmation we shouldn't be shorting on gold looking at the trend and momentum it could be really risky.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
If you zoomed-out a bit you'll see each consecutive up-moves after the corrections in this uptrend is continuously declining, which signals weakening of the trend and may show some deeper correction. We should be actively looking for some swing failure (where it fails to breach previous swing high) or breakdown of some important support to initiate short entries.
Immediate support is at 4348 and below that 4310 is an important support if breached we can think for shorting, resistance is at 4435 (Previous swing high).
without confirmation we shouldn't be shorting on gold looking at the trend and momentum it could be really risky.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
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t.me/CrazyTrades247_FX_International
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İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Join Telegram Channels for more Trades ideas 🧿
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.