Gold due for a correction, 2000 may be back in sight
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@2284
Comment:
160 Pips profit, booked partial profit
Comment:
Lot of data release in US session, expecting volatility
Comment:
Price breaks2301, sell set up would be invalid if Gold breaks the channel top
Trade active:
Sold again@2300 as per plan
Comment:
140 pips profit once again
Comment:
Currently down 230 pips from our sell level