Gold: The Bearish Market and New Trades
If we look at Gold through the signals of Ichimoku indicator, we will see a bearish market. The price could pass the cloud and now Senkou B is the 1st resistance line. The breakout below 1848.00$ will confirm the further downward movement. DMI is bearish and ADX line shows the strength of the bears.
We can wait for the pullbacks toward the cloud, Tenkan, Kijun lines, and open short trades following the price reversals.
If you want to buy, you have to wait for the breakout above the local downtrend line and the price movement above the cloud.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We can wait for the pullbacks toward the cloud, Tenkan, Kijun lines, and open short trades following the price reversals.
If you want to buy, you have to wait for the breakout above the local downtrend line and the price movement above the cloud.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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