Short opportunity on gold.
Price has reached resistance at 1735 level.
We have some nice bearish rejection at this level as well as bearish confluence among the indicator.
Gold has been in a downtrend in recent weeks so we are looking to get involved in this downtrend with this short position.
My TP is at the 1680 level and a tight SL at 174 above resistance.
Price has reached resistance at 1735 level.
We have some nice bearish rejection at this level as well as bearish confluence among the indicator.
Gold has been in a downtrend in recent weeks so we are looking to get involved in this downtrend with this short position.
My TP is at the 1680 level and a tight SL at 174 above resistance.
Comment:
Caught a nice bear move on this trend. Managed to get out at the 1705 level as I saw bearish momentum slowing and a bullish reversal was coming!