what i really want to see on gold.
in about one hours and half, we have upcoming news on USD, the "New Home Sales", it may make USD weak, because on WSJ, I read some bad articles about new home sales, i think it can make the gold bullish a bit, on the other hand we have a new resistant area formed around 2015.42 which i think can hold the gold price below.
if the price successfully break 2015.71, it can be a good opportunity for longing gold, but because there is also a HTF resistant zone around 2016.74, i will not enter long in that area.
so, the only scenario i want to happen, is the sells.
sells below 2011.63, and with a suitable stoploss, i think it is not a high risk sells, but we may face a fake breakout and price may go back around 2012.67 (near our stoploss), and then it continues to drop.
after reacting both 2015.71 and 2011.63, depending on how the candle closes, i decide if i want to enter the gold or not.
have a nice day Traders. ;-)
if the price successfully break 2015.71, it can be a good opportunity for longing gold, but because there is also a HTF resistant zone around 2016.74, i will not enter long in that area.
so, the only scenario i want to happen, is the sells.
sells below 2011.63, and with a suitable stoploss, i think it is not a high risk sells, but we may face a fake breakout and price may go back around 2012.67 (near our stoploss), and then it continues to drop.
after reacting both 2015.71 and 2011.63, depending on how the candle closes, i decide if i want to enter the gold or not.
have a nice day Traders. ;-)
Comment:
this is why i told you i am not going to buy above 2015.71
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