GOLD / Are we touching the bottom or flying up?
After 2 wins in a row in 'Mind' section, I opened the 3rd position. Let's post here.
Here is what I think: Gold price almost touched the bottom of the 6-day bearish trendline. Is there a chance that the price will go up? Sure. But according to my analysis and tools, the price will go down back to 2540 again with a probability of 75%, there is a possibility that it'll go even lower, but I'll take only 150 pips down just to be more confident.
To be honest, I think that even if today's news about PPI is positive for gold, gold will still fall. It'll definitely reverse, but it must reach the bottom first.
My position: TP at 2540, my stop loss is very far to be on the safe side.
Trade safely and let's see what happens! ☕️
Here is what I think: Gold price almost touched the bottom of the 6-day bearish trendline. Is there a chance that the price will go up? Sure. But according to my analysis and tools, the price will go down back to 2540 again with a probability of 75%, there is a possibility that it'll go even lower, but I'll take only 150 pips down just to be more confident.
To be honest, I think that even if today's news about PPI is positive for gold, gold will still fall. It'll definitely reverse, but it must reach the bottom first.
My position: TP at 2540, my stop loss is very far to be on the safe side.
Trade safely and let's see what happens! ☕️
Note
Closed
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.
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.