Scalping short correction.
I'm aa newbie and this is my first analysis shared.
Gold is on major half july resistence. Tested 4 times already. May becone weak. Since I like to scalp, I look for intraday trading.
Gold is inside an ascending channel since midle august and respected it quite perfect since then.
Nfp produced a big rise of gold price and a correction is expexted. Macd indicator is already showing begining of this correction.
My main targets for next weak are between 1823 and 1819 being my tp1 1823,2 and my tp2 on 1819,50.
My guess fo next week is ranging like gold did last week.
Next friday major news, PPI.
Looking for the next big movement, Dxy is on a bearrish trend since august 20 and broke ascending channel support. We should wait to see if it creates a new support following D1 lowers prices of may july. Untill that, dxy major trend is bullish since may.
Gold is on major half july resistence. Tested 4 times already. May becone weak. Since I like to scalp, I look for intraday trading.
Gold is inside an ascending channel since midle august and respected it quite perfect since then.
Nfp produced a big rise of gold price and a correction is expexted. Macd indicator is already showing begining of this correction.
My main targets for next weak are between 1823 and 1819 being my tp1 1823,2 and my tp2 on 1819,50.
My guess fo next week is ranging like gold did last week.
Next friday major news, PPI.
Looking for the next big movement, Dxy is on a bearrish trend since august 20 and broke ascending channel support. We should wait to see if it creates a new support following D1 lowers prices of may july. Untill that, dxy major trend is bullish since may.
Note
I expect gold ranging untill Friday news.Pls feel free to comment and share ur analysis!
Note
My tp1 has been reached. Really slow day since is USA banks hollidays.Protected on be for tp2
Trade closed manually
Looks like correction is finishing. Closed my second trade having nice profit.A beatifull inverted hummer told me that was time to close the sell.
For tomorrow, I will look for a buy. My entry would be around 1824, my tp1 1827,5 and my tp2 1832.
Still thinking in a ranging week.
Trade closed manually
My firstvtrade would touch tp2 buts I closed.Assian session gaves us what london didnt
The second trade did not get tp1 by 3 pips and went directly to SL.
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.