-Gold currently trading bearish for the past 4 months.
-Structure supports further downward momentum, trend currently trading below the CTL.
-Gold is quite sensitive to Economic data especially Fed Talks and inflation data.
-Possible Cup and handle formation brewing (Early Stages).
Long entry :
Consider this signals only if the trend fails to breakthrough the 1205 Support region (Blue box).
-1235 entry, would apply to aggressive traders, with a tight stop loss
-1270 entry, post major resistance (Blue box) would apply to more conservative traders.
Short entry :
Consider this signal if there is a downward continuation.
-Break and close below 1206 (Aggressive entry)
-Break and close below 1180 (Conservative entry)
-Take profit : 1126 (re-visiting 2016/12/23 low)
-Structure supports further downward momentum, trend currently trading below the CTL.
-Gold is quite sensitive to Economic data especially Fed Talks and inflation data.
-Possible Cup and handle formation brewing (Early Stages).
Long entry :
Consider this signals only if the trend fails to breakthrough the 1205 Support region (Blue box).
-1235 entry, would apply to aggressive traders, with a tight stop loss
-1270 entry, post major resistance (Blue box) would apply to more conservative traders.
Short entry :
Consider this signal if there is a downward continuation.
-Break and close below 1206 (Aggressive entry)
-Break and close below 1180 (Conservative entry)
-Take profit : 1126 (re-visiting 2016/12/23 low)