On the 4 hour time frame Gold
is showing good strength (Daily about to) The 1st upper range has already been broken and it's now pushing against the 2nd upper range. On the Adx
indicator the bearish trend
is getting stronger and about the take over from the fading bullish
(green) trend line
. Also the Stoch Rsi
shows nice buying pressure.
Buy between 1221-1224
Stop loss: 1217
Take profit: 1232 first. at this price move your stop loss to 1226 or take your profit. I personally prefer to move up your stop loss to protect you profit and see if gold
will go to the 3rd upper range. From this point keep moving up your stop loss.