Gold showed the bullish trend in WEEKLY & 4H timeframe and bearish trend in Daily timeframe.
Yellow box/lines indicates the Buy zone and sell zone POI for gold.
My trading plan for gold this week will be as follows :
- My first sell (swing trade) will be at 1987.73 with SL = 1994.5 and TP around 1962.
Safe (Intraday trade) entry will be to wait for BOS in 15M once price touches 1987.73 and then enter with 32 pips SL and minimum 100 pips TP.
- Second sell will be at 2005 (too risky trade) SL will be around 2011 and TP = 1992/1962
I expect first sell entry mentioned above to be activated by Monday/Tuesday and then price reach towards our buy zone.
- I see a strong buying zone around 1964 - 1969.30 so my first buy (swing trade) will be at 1962.04 with SL = 1954.8 and TP around 1986.
For intraday trade will wait for BOS in 15M after touching 1969.30 and then enter with 32 pips SL and minimum 100 pips TP.
- Another buy will be at 1959 with SL = 1953.50 and TP around 1986.
For intraday trade will wait for BOS in 5M after touching 1959 and then enter with 32 pips SL and minimum 100 pips TP.
- 3rd buy limit will be placed at 1961.9 with SL = 1954.5 and TP = 1986
That's all for this week... All the best