Gold Analysis and Trade Idea for 05-10-2022 Evening

5 ต.ค. 2022

Bullish
- Market is overall in bullish run
- Gold at HL level
- 4H candle hit the moving average
- Gold hit 0.786 entrancement level
Plan B
Wait for for gold retrenchment to 1700 to go long

Long Gold: 1705-1703
SL: 1701.00
TP1: 1712.00
TP2: 1718.00
TP3: 1725.00

if gold breaks 1700 level don't go long wait for next call.
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Bearish
- Gold hit 1729, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment

Bearish
- Gold hit 1729, 3 weeks high
- 4H candle formation is getting week with every new candle
- Gold is over bought
- Fib retrenchment