Gold is at a key area of resistance which could predict the next big movement for the prestigious growth asset, Patience is key over the next few days/weeks whilst price action develops. Currently, we are at an ideal place for a SHORT down to the support zone around 1770 with a multitude of confluences and indicators leading to provide evidential analysis for a short.
If the daily close is above my trendline I will simply wait for the 75% convergence to line up before considering another entry short or buy.
If we have the daily close in our favour I would enter my short around 70% to 30% of the actual trade depth providing a great swing trade. You could also day trade the volatility pullbacks throughout the day even adding to your short after a pullback. (Do this at your own risk)
Like I said patience is key just waiting to see how price action develops going into the week.
Kind Regards
B1GFUDG3
May The Force Be With You Padawon
Disclaimer: I am not providing any financial advice please do your own research and due diligence before trading as it can be high risk to those with the lack of understanding to how the markets work. Be Safe. Dont bet the house.
If the daily close is above my trendline I will simply wait for the 75% convergence to line up before considering another entry short or buy.
If we have the daily close in our favour I would enter my short around 70% to 30% of the actual trade depth providing a great swing trade. You could also day trade the volatility pullbacks throughout the day even adding to your short after a pullback. (Do this at your own risk)
Like I said patience is key just waiting to see how price action develops going into the week.
Kind Regards
B1GFUDG3
May The Force Be With You Padawon
Disclaimer: I am not providing any financial advice please do your own research and due diligence before trading as it can be high risk to those with the lack of understanding to how the markets work. Be Safe. Dont bet the house.
