Gold prices suffered a significant setback, experiencing a sharp decline on the daily chart, falling $240 from around 4380 to approximately 4140. The daily chart shows a continuous decline, with the 10-day and 7-day moving averages maintaining a death cross and widening downwards. The RSI indicator is below the midline, and the price remains within the lower Bollinger Bands.
On the hourly and 4-hour charts, the Bollinger Bands are widening downwards, and the moving averages have also formed a death cross and are widening downwards. Yesterday's sharp drop in gold prices, breaking below the 4200 level again, has established a very strong bearish trend. Today's trading strategy is primarily to sell on rallies, anticipating an initial decline followed by a rise, and then another decline.
My recommendations:
BUY: 4060-4070, SL: 4040, TP: 4130-4160;
SELL: 4200-4210, SL: 4230, SL: 4140-4100;
On the hourly and 4-hour charts, the Bollinger Bands are widening downwards, and the moving averages have also formed a death cross and are widening downwards. Yesterday's sharp drop in gold prices, breaking below the 4200 level again, has established a very strong bearish trend. Today's trading strategy is primarily to sell on rallies, anticipating an initial decline followed by a rise, and then another decline.
My recommendations:
BUY: 4060-4070, SL: 4040, TP: 4130-4160;
SELL: 4200-4210, SL: 4230, SL: 4140-4100;
💥 Full-time finance professional.
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
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.
💥 Full-time finance professional.
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
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.