Overview- Gold has dropped as expected from the 1757 resistance level. If you
Followed my previous idea to sell at 1745 then you are already in good profit. In this idea, let
us analyze Gold and see if there is more downtrend to come.
Analysis – As you can see from the chart, price is clearly under the 100 day moving
Average which indicates that the downtrend is intact. The resistance at 1757 has not been broken
And price has reversed from the resistance level.
Probable trade set-up - Based on this, the downtrend is more likely to continue. Those
Who have sold near the resistance can take partial profit now and set the final TP at 1700. Fresh sells can be
Executed if price rallies close to the resistance once again.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
Followed my previous idea to sell at 1745 then you are already in good profit. In this idea, let
us analyze Gold and see if there is more downtrend to come.
Analysis – As you can see from the chart, price is clearly under the 100 day moving
Average which indicates that the downtrend is intact. The resistance at 1757 has not been broken
And price has reversed from the resistance level.
Probable trade set-up - Based on this, the downtrend is more likely to continue. Those
Who have sold near the resistance can take partial profit now and set the final TP at 1700. Fresh sells can be
Executed if price rallies close to the resistance once again.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.