Gold Analysis and Trade Idea for 05-10-2022
Bearish
- Gold hit 1729, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment
Plan A
Sell: 1724.00
SL: 1727
TP1: 1718
TP2: 1712
TP3: 11707
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Bullish
- Market is overall in bullish run
- Gold has broke previous LH
- Gold is over bought
Plan B
Wait for for gold retrenchment to 1684 to go long
1682 is a strong support
Long Gold: Wait for retrenchment to 1684
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
- Gold hit 1729, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment
Plan A
Sell: 1724.00
SL: 1727
TP1: 1718
TP2: 1712
TP3: 11707
==========================================================
Bullish
- Market is overall in bullish run
- Gold has broke previous LH
- Gold is over bought
Plan B
Wait for for gold retrenchment to 1684 to go long
1682 is a strong support
Long Gold: Wait for retrenchment to 1684
SL: 0.00
TP1: 0.00
TP2: 0.00
TP3: 0.00
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