Gold Spot / U.S. DollarUpdated Gold price reaches the top of the channel,time for a correction?
Hello traders, in my previous Gold idea, I recommended buying Gold
between 1760-1767 with SL below 1752 and TP at 1815. As you can see, it was a
great buy trade and whoever followed made very good profit(previous idea attached below).
Currently, Gold has reached the top of a long-term price channel on the daily chart.
So, there might be a correction soon.
If bearish price action happens at the top of the channel a low-risk sell @1840-1850
with SL above 1860 and TP at 1800 would be a possible sell trade.
between 1760-1767 with SL below 1752 and TP at 1815. As you can see, it was a
great buy trade and whoever followed made very good profit(previous idea attached below).
Currently, Gold has reached the top of a long-term price channel on the daily chart.
So, there might be a correction soon.
If bearish price action happens at the top of the channel a low-risk sell @1840-1850
with SL above 1860 and TP at 1800 would be a possible sell trade.
Note
Going as predicted
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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.