Hello Gold is near the 2300 mark and at this point, the uptrend looks out
of control. That being said, there is a real possibility of a pullback at this stage.
Technically, Gold has reached the top of the price channel. So, at this stage, I would
advise early buyers to book profit and avoid any fresh buy orders in Gold.
If there is bearish price action in the 2250-2300 level, I would sell Gold@2285-2300 zone
with stop loss above the channel resistance and TPs at 2155, 2069 and 1989 respectively.
of control. That being said, there is a real possibility of a pullback at this stage.
Technically, Gold has reached the top of the price channel. So, at this stage, I would
advise early buyers to book profit and avoid any fresh buy orders in Gold.
If there is bearish price action in the 2250-2300 level, I would sell Gold@2285-2300 zone
with stop loss above the channel resistance and TPs at 2155, 2069 and 1989 respectively.
Trade active
Sold@2284Note
160 Pips profit, booked partial profitNote
Lot of data release in US session, expecting volatilityNote
Price breaks2301, sell set up would be invalid if Gold breaks the channel topTrade active
Sold again@2300 as per planNote
140 pips profit once againNote
Currently down 230 pips from our sell level
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.