xeshaan

Gold Analysis and Trade Idea for 20-Mar-2023

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Ok so market is at resistance level and we can see the resistance at 1990 and market can give fake breakouts up-to 1994 so till that price I won't recommend buy. While we can see a 4H bearish divergence which is indicating that market is going to drop this price level so my bet is for short term bearish market that can go up-to 2-3 days. What I will do in this market is scalping i'll short the price from 1990 with sl 1994 and log it near 1960 with sl of 1958. If it is an accumulation phase then market can give us multiple successful entries. This is my plan until se see the break either upwards or downwards. Overall trend is bullish so market can go up for $2007 before going further down.

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