Potential GOLD Trading Plan
Just a week after being crushed by the best U.S. jobs report in three months, the gold rally is back and alive, as fears about a second coronavirus wave in the United States prop up the safe haven to get even lower as low as 1450.
As the price is currently on distribution (sideways), any breakout will likely dictate the new trend for GOLD.
Key Trading Plan:
i) SHORT if the price breaks the support level of 1667.39 with the Take Profit 1 at 1564.31 and Take Profit 2 at 1450.70.
ii) LONG if the price breaks the resistance level of 1766.29 with the Take Profit point at 1800.
Author:
S.I.D. Aizu
As the price is currently on distribution (sideways), any breakout will likely dictate the new trend for GOLD.
Key Trading Plan:
i) SHORT if the price breaks the support level of 1667.39 with the Take Profit 1 at 1564.31 and Take Profit 2 at 1450.70.
ii) LONG if the price breaks the resistance level of 1766.29 with the Take Profit point at 1800.
Author:
S.I.D. Aizu
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.