Gold Bearish idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Gold is looking bearish but we are forming a bit of a pattern here. Price action is resting near 1830.00 and we are waiting for reactions here to determine where we’re going next.
Ideally we continue bearish and we see structure below 1830.00. Look to enter short on strong lower highs below 1830.00 and look to target lower toward 1800.00
Trade scenario 2: The other likely scenario is that this pattern continues to develop and we see price action push toward our 1850.00 area. Look for reactions at this level for the next move.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Gold is looking bearish but we are forming a bit of a pattern here. Price action is resting near 1830.00 and we are waiting for reactions here to determine where we’re going next.
Ideally we continue bearish and we see structure below 1830.00. Look to enter short on strong lower highs below 1830.00 and look to target lower toward 1800.00
Trade scenario 2: The other likely scenario is that this pattern continues to develop and we see price action push toward our 1850.00 area. Look for reactions at this level for the next move.
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