The gold broke the
previous bullish trend and
entered in bearish trend
Scenarios:
1- Expecting the price to break
the zone below and test the fib 0.61 area with a long wick, Retest the upper zone and continue
pushing down towards the 1D Resistance or the zone at the bottom.
2- If gold rejected the zone below and continue pushing up and breaks the Resistance above then there is a chance of buying.
Note:
Trade according to the scenarios with risk management and account size.
previous bullish trend and
entered in bearish trend
Scenarios:
1- Expecting the price to break
the zone below and test the fib 0.61 area with a long wick, Retest the upper zone and continue
pushing down towards the 1D Resistance or the zone at the bottom.
2- If gold rejected the zone below and continue pushing up and breaks the Resistance above then there is a chance of buying.
Note:
Trade according to the scenarios with risk management and account size.