Gold price dropped with a strong momentum last week, showing a bearish market on gold.
During a strong price momentum, it is always a danger to execute against the trend.
However, gold reached a very important point with multi confluences.
Current gold price is playing in the daily shifting zone as well as the third point of daily ascending trendline.
There are always three probabilities in the price’s reaction after reaching an important level which are, the price will continue its trend, it ll reverse and it ll ranging.
It is up to us to anticipate the market upon observing the price action.
Prepare the trading plan, trade your plan.
During a strong price momentum, it is always a danger to execute against the trend.
However, gold reached a very important point with multi confluences.
Current gold price is playing in the daily shifting zone as well as the third point of daily ascending trendline.
There are always three probabilities in the price’s reaction after reaching an important level which are, the price will continue its trend, it ll reverse and it ll ranging.
It is up to us to anticipate the market upon observing the price action.
Prepare the trading plan, trade your plan.