Gold - Liking a short to 2400
Gold has been rising and making new highs however, price has been away from 200EMA (12H chart) for 296 candles which is a bit extreme. It needs to do a pull-back before going much higher. R1 Monthly pivot resistance is at 2567 which price might want to visit first before falling.
Trade small and scale in when the price goes in your favor.
Trade small and scale in when the price goes in your favor.
Note
Gold is still pushing up but will soon pullback to the 200EMA on H12
To short, go to H4 and wait for a break of structure then short on a pull back all the way down to the 200EMA on H12
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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.