GOLD Golden Sell Setup
Updated
GOLD on the daily time frame gives a nice sell setup for the upcoming week. Its approaching the 14 ema and the 72 ema is very close to it. Since the indicators give a bearish crossover chances are high that these ema levels will break. As you can see in the past these breaks mostly lead to a further downfall giving it a very high probability that price will hit the 1244 support level. Judging by the size of the previous moves after an ema break its also likely that this 1244 support well break.
Sell at market open.
Stop at 1266
At 1244 move stop to 1252
At 1236 move stop to 1244
At 1224 move stop to 1232
At 1217 take profit or move stop to 1226 and aim at a further fall down
Sell at market open.
Stop at 1266
At 1244 move stop to 1252
At 1236 move stop to 1244
At 1224 move stop to 1232
At 1217 take profit or move stop to 1226 and aim at a further fall down
Trade active
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.