GOLD for the week 16.07.
This week we've seen a double bottom formation on gold. I myself was stopped out of a long position. Will wait for confirmation from the market, USD is gaining strength so possibility of downside is present.
Important level for downside is 1235.
BIAS: LONG
Weekly: Reinkes bearish candle, possibility of upside.
Daily: Doublebottom rejection candle
1-4H: Price moving in corridor, after break of trendlines or bottom enter with confidence
Important level for downside is 1235.
BIAS: LONG
Weekly: Reinkes bearish candle, possibility of upside.
Daily: Doublebottom rejection candle
1-4H: Price moving in corridor, after break of trendlines or bottom enter with confidence
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.