GOLD - WEEKLY ANALYSIS.
GOLD- It's looking bearing on a bigger time frame, Approach should be finding a short sell opportunity.
Levels to take action on ;
Go for short sell in the range of 1945 - 1950 with a stop loss of 1966 for a downside potential up to 1900 - 1883.
Keep trailing stop always to secure your profits.
There is a possibility of a bounce back which I have mentioned from 1883 so have an eye on it to grab a buying opportunity as well.
In case if it triggers stop loss level of 1966 and sustaining above 1970 it can jump till 2012 level, but chances for an upside is little less for now based on technical charts but do keep this in mind too.
Follow the levels properly and maintain proper risk reward.
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Levels to take action on ;
Go for short sell in the range of 1945 - 1950 with a stop loss of 1966 for a downside potential up to 1900 - 1883.
Keep trailing stop always to secure your profits.
There is a possibility of a bounce back which I have mentioned from 1883 so have an eye on it to grab a buying opportunity as well.
In case if it triggers stop loss level of 1966 and sustaining above 1970 it can jump till 2012 level, but chances for an upside is little less for now based on technical charts but do keep this in mind too.
Follow the levels properly and maintain proper risk reward.
Traders, if you liked this idea hit the like button & write in the comment section.
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