Gold Spot / U.S. DollarUpdated Gold struggles at the 4H Resistance, another drop to 1920?
Dear traders, in my previous idea posted yesterday, I mentioned buying Gold@1940
As you can see, Gold reach 1969 which is about 300 pips profit for the ones who
followed my idea.
Currently, XAU/USD is struggling at the dynamic resistance on the 4H chart. In previous
occasions as well, Gold failed to break the dynamic resistance. So, if price doesn't break
this resistance zone, Selling Gold@1965-1970 with SL above resistance and TP
at 1937 would be a potential sell trade.
Keep in mind , there's also a chance that the local support at 1937 could break over the course
of next 2-3 weeks if bulls fail to clear the aforementioned resistance.
As you can see, Gold reach 1969 which is about 300 pips profit for the ones who
followed my idea.
Currently, XAU/USD is struggling at the dynamic resistance on the 4H chart. In previous
occasions as well, Gold failed to break the dynamic resistance. So, if price doesn't break
this resistance zone, Selling Gold@1965-1970 with SL above resistance and TP
at 1937 would be a potential sell trade.
Keep in mind , there's also a chance that the local support at 1937 could break over the course
of next 2-3 weeks if bulls fail to clear the aforementioned resistance.
Note
Looks the the 4H candlestick would be bearishTrade active
Sold at 1970 as per plan, currently in 110 pips profit
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Related publications
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.