Gold - Daily - Watch the line!
Well well well... Isn't this a fancy level... AGAIN!!!
Honestly... This commodity is fascinating.
It really loves it's trend lines. It really loves to test them out.
Somewhere deep in my mind, it's telling me that this is a good SELL. It would really be a good breaking point for a lower move. Certainly, I understand that we need a good confirmation, like a close on the Daily, but there are plans to lift the DXY a little bit higher, then bad news for this shiny metal.
If you are very adventurous, then you can enter a position and see what happens, with the help of a SL of course.
But if you are more careful and once you have been burnt on this commodity, then keep watching the movement around that trend line. And don't worry, you will definitely NOT miss a good entry on it.
As always, keep an eye on the price action!
Honestly... This commodity is fascinating.
It really loves it's trend lines. It really loves to test them out.
Somewhere deep in my mind, it's telling me that this is a good SELL. It would really be a good breaking point for a lower move. Certainly, I understand that we need a good confirmation, like a close on the Daily, but there are plans to lift the DXY a little bit higher, then bad news for this shiny metal.
If you are very adventurous, then you can enter a position and see what happens, with the help of a SL of course.
But if you are more careful and once you have been burnt on this commodity, then keep watching the movement around that trend line. And don't worry, you will definitely NOT miss a good entry on it.
As always, keep an eye on the price action!
