Gold Trading Strategy for 20th November 2024
Gold Trading Signal
Current Price: ₹2632.20
Trading Levels:
Buy Above: ₹2640
Trigger a long position when the price closes above ₹2640 on a 1-hour candle.
Resistance Levels:
₹2665 (Initial Resistance)
₹2693 (Next Resistance)
Sell Below: ₹2620
Trigger a short position when the price closes below ₹2620 on a 1-hour candle.
Support Levels:
₹2598 (Initial Support)
₹2585 (Next Support)
Key Notes:
Monitor price action carefully around the buy and sell levels.
Ensure proper risk management by setting stop-loss orders slightly above or below resistance and support levels, respectively.
Consider additional confirmations such as volume or RSI divergences before entering trades.
Disclaimer:
This analysis is for educational and informational purposes only. It is not financial advice or a recommendation to trade. Trading in the financial markets involves substantial risk and may not be suitable for all investors. Past performance is not indicative of future results. Always consult with a qualified financial advisor before making trading decisions.
Current Price: ₹2632.20
Trading Levels:
Buy Above: ₹2640
Trigger a long position when the price closes above ₹2640 on a 1-hour candle.
Resistance Levels:
₹2665 (Initial Resistance)
₹2693 (Next Resistance)
Sell Below: ₹2620
Trigger a short position when the price closes below ₹2620 on a 1-hour candle.
Support Levels:
₹2598 (Initial Support)
₹2585 (Next Support)
Key Notes:
Monitor price action carefully around the buy and sell levels.
Ensure proper risk management by setting stop-loss orders slightly above or below resistance and support levels, respectively.
Consider additional confirmations such as volume or RSI divergences before entering trades.
Disclaimer:
This analysis is for educational and informational purposes only. It is not financial advice or a recommendation to trade. Trading in the financial markets involves substantial risk and may not be suitable for all investors. Past performance is not indicative of future results. Always consult with a qualified financial advisor before making trading decisions.
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.