Gold +5% Buy
Updated
we have 1697.50 daily support in play
We also closed off yesterday's daily candle with a bearish shooting star
So we can conclude bears are still in this market heavily for trend purposes
Although price seems be finding support on the daily level 1697.50 today
On the 2-hour timeframe
We have 3 bullish candles which engulf the previous 2 bearish candles
blending those candles forms a bullish hammer candle which is why I executed the trade
NOTE: The trend is still bearish but we are looking to catch the reversal early
Stops below the low at 1686.00
Target below the daily resistance 1804
We also closed off yesterday's daily candle with a bearish shooting star
So we can conclude bears are still in this market heavily for trend purposes
Although price seems be finding support on the daily level 1697.50 today
On the 2-hour timeframe
We have 3 bullish candles which engulf the previous 2 bearish candles
blending those candles forms a bullish hammer candle which is why I executed the trade
NOTE: The trend is still bearish but we are looking to catch the reversal early
Stops below the low at 1686.00
Target below the daily resistance 1804
Trade active
Stops at break even as we play around the previous lower high.US session closing soon
Order cancelled
Bears seem to be back as price rejected at the previous lower high
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