Gold (22/02/2020) - Stop falling – Rebound or create a trough?
Currently I have closed my positions. But if you have a BUY position and are holding a BUY position as in the previous post, feel free to scale out (take profit ½) and continue to hold the other half. The price that I recommend is a good enough for us to bet on this wave.
Ok! Let’s go to the analysis.
1. Weekly chart
Move under the MA50.
My subjective opinion: this week or next week, the price will bounce back to this MA50, in line with the downtrend of the weekly chart. It is not clear whether the price will test this line and then decrease or turn back strongly.
2. Day chart
(i) Scenario 1: Adjust at the beginning of the week, then increase
(ii) Scenario 2: Increase sharply before adjusting
Although there are 2 scenarios, but the meaning is only 1 - Price continues to be anchored in a downtrend and move between 2 yellow trend lines.
Anyway, with the orders that we have placed BUY positions, continue to hold.
Follow this area carefully and have a good strategy. For example:
- If you want to BUY, then have to remember this thing. When the price increases, it always some decreasing intervals so that we have the chance to BUY. Therefore, the recommendation would be: divide turns to BUY. If it’s true – take profit 1/2 - wait to BUY more - follow the intervals to BUY. In case it’s false - SL - lose a little bit.
- If you want to SELL, either wait for the trend line from the 182x - 183x, or wait for the price to collapse at 1760 to SELL. When gold falls, it falls sharply. If you have an entry point, enter the order.
My opinion about GOLD is still the same, always focus on a high level of safety. As long as you can protect your money, you will make money in this market.
3. 4h chart
When the price goes like this, it will be the inverse head and shoulders pattern – predicting a strong bounce.
4. DXY
The USD is still sticking to the MA50. After the fall, people expect it to rebound. But the USD goes sideways with unclear trend.
5. Discussion
Gold could go down to 1700 (even deeper)? Maybe yes.
Gold rises sharply from here until the end of March to return to 19xx? It’s also possible.
Nothing is certain. Everything is basically just a probability. High winning probability - enter the trade. High losing probability – just watch do nothing. With Gold, money is earned when we wait for good price ranges to enter orders.
Now, we will wait for a new development of
Ok! Let’s go to the analysis.
1. Weekly chart
Move under the MA50.
My subjective opinion: this week or next week, the price will bounce back to this MA50, in line with the downtrend of the weekly chart. It is not clear whether the price will test this line and then decrease or turn back strongly.
2. Day chart
(i) Scenario 1: Adjust at the beginning of the week, then increase
(ii) Scenario 2: Increase sharply before adjusting
Although there are 2 scenarios, but the meaning is only 1 - Price continues to be anchored in a downtrend and move between 2 yellow trend lines.
Anyway, with the orders that we have placed BUY positions, continue to hold.
Follow this area carefully and have a good strategy. For example:
- If you want to BUY, then have to remember this thing. When the price increases, it always some decreasing intervals so that we have the chance to BUY. Therefore, the recommendation would be: divide turns to BUY. If it’s true – take profit 1/2 - wait to BUY more - follow the intervals to BUY. In case it’s false - SL - lose a little bit.
- If you want to SELL, either wait for the trend line from the 182x - 183x, or wait for the price to collapse at 1760 to SELL. When gold falls, it falls sharply. If you have an entry point, enter the order.
My opinion about GOLD is still the same, always focus on a high level of safety. As long as you can protect your money, you will make money in this market.
3. 4h chart
When the price goes like this, it will be the inverse head and shoulders pattern – predicting a strong bounce.
4. DXY
The USD is still sticking to the MA50. After the fall, people expect it to rebound. But the USD goes sideways with unclear trend.
5. Discussion
Gold could go down to 1700 (even deeper)? Maybe yes.
Gold rises sharply from here until the end of March to return to 19xx? It’s also possible.
Nothing is certain. Everything is basically just a probability. High winning probability - enter the trade. High losing probability – just watch do nothing. With Gold, money is earned when we wait for good price ranges to enter orders.
Now, we will wait for a new development of
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Telegram kiến thức: t.me/jqkaforexacademy
Zalo: zalo.me/g/zvamcs966
Học Vĩ Mô: phanhieuky.com/prohack-money/
