Gold is due for bounce once FVG is filled above 1870
Weekly FVG at 1870-1885 is a key zone to consider and could be a potential demand area.
Gold has been trading on a clear downtrend after FED's hawkish stance in raising another 25 bps in interest rate from 5.25% to recent 5.50%. This decision put heavier weigh on this yellow metal.
Short term: Buy levels, 1870-1885, keep stops with 10$-15$ tolerance
Short term Buy Targets: Weekly FVG at the levels 1910-1925
Long term: Strong Sell at 1925
Long term Sell targets: 1833-1860
Gold has been trading on a clear downtrend after FED's hawkish stance in raising another 25 bps in interest rate from 5.25% to recent 5.50%. This decision put heavier weigh on this yellow metal.
Short term: Buy levels, 1870-1885, keep stops with 10$-15$ tolerance
Short term Buy Targets: Weekly FVG at the levels 1910-1925
Long term: Strong Sell at 1925
Long term Sell targets: 1833-1860
Trade closed manually:
#Gold after rallying for 3rd day today, may officially have reached the Daily Order block bearish at 1912 zone.
Suggest taking profits for long positions as this wave is considered as a corrective bounce to the upside.
Main trend remains bearish on a daily timeframe perspective.
Suggest taking profits for long positions as this wave is considered as a corrective bounce to the upside.
Main trend remains bearish on a daily timeframe perspective.