Bearish Bias in Gold

3 พ.ค. 2020

Hi All,

Gold is at a very important juncture where the bear/bull decision would be made. Price is currently moving upwards with a close above 54LWMA on lower time frames and still under it in higher time frames. So, both buyers/sellers are alive, time to wait.

Bears are in control, until 1740. Since a bear move could open to fall the price to 1650-1550, buyers/sellers battle could be more at this point.
If price closes above 1740, we need to re-analyse the situation based on price action at that point. Selling may/may not be valid, but that is not going to be a proper bull signal anyway.

This has good risk/reward opportunity, watch out and trade safe next week.

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Note: Not liable for any financial loses.

9 พ.ค. 2020

บันทึก

Guys, This is what trading is all about. Patience.

This trade idea has been predicted during the last weekend, but it took one whole week to materialize. Patience again.

Everything played out exactly, we got buyer/seller fight and during the last few hours before market close, we got bears coming in. Patience will be tested time and again, but if you stick to your idea, you will win in the long term.

Like and support this idea, if you liked it.

TraderX7.