Big bearish market. Fall not over yet?
Last week gold suprised us with a big fall. In my previous post i mentioned a bigger pullback from 1858 level. WE managed to catch around 140pips. My initial plan was to short again around 1885. Unfortunality gold decided to fall earlier around 1880.
We have 1 week low candle waiting at 1830-1828 wich in my opinion gold will tap this zone this week. From here a big rejection can follow. If gold retraces earlier. Notify 1860,1885 is a good resistance for gold to fall again. But we need to wath price action closely. But in my opinion we will not see a good proper pullback until 1830-1828
BE advised we have some Highimpact news events this week wich can influence our technical analysis
SUpport: 1830, 1810,1775
Resistance: 1860, 1875, 1885, 1900
We have 1 week low candle waiting at 1830-1828 wich in my opinion gold will tap this zone this week. From here a big rejection can follow. If gold retraces earlier. Notify 1860,1885 is a good resistance for gold to fall again. But we need to wath price action closely. But in my opinion we will not see a good proper pullback until 1830-1828
BE advised we have some Highimpact news events this week wich can influence our technical analysis
SUpport: 1830, 1810,1775
Resistance: 1860, 1875, 1885, 1900
Note
1830 arrived. Waiting for priceaction to tell me more, Gold fell towards my weeklow i mentionend.Note
around 1828 is is monthly low. Expecting a certain pulback/Reversal around this zone
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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.