Gold has had some incredible volatility recently due to various economic news.
From a technical standpoint, we are approaching an area of interest where we may either see a breakout or a reversal from the 1830-1840 level, where price has reacted significantly in the past.
We have 2 trade ideas for Gold .
LONG Trade idea:
Watch for a breakout and then a retest of the structure level for a move higher.
Take profit: 1900 for first target (recent highs)
SL: Below structure level
SHORT Trade Idea:
Watch for a rejection of the structure level
Take Profit: 1720 - 1680
SL: Above structure level
Please use proper risk management and do NOT over leverage.
Goodluck and as always, trade safe!
From a technical standpoint, we are approaching an area of interest where we may either see a breakout or a reversal from the 1830-1840 level, where price has reacted significantly in the past.
We have 2 trade ideas for Gold .
LONG Trade idea:
Watch for a breakout and then a retest of the structure level for a move higher.
Take profit: 1900 for first target (recent highs)
SL: Below structure level
SHORT Trade Idea:
Watch for a rejection of the structure level
Take Profit: 1720 - 1680
SL: Above structure level
Please use proper risk management and do NOT over leverage.
Goodluck and as always, trade safe!