Today Gold formed a higher at around 1815 and is immediately rejected giving us a good short position with small SL.
There is good support near 1804 and 1798 levels. So we can go for long near these levels with SL 1788 and TP 1815.
Momentum is still bearish but trend is positive as we are able to see higher highs everyday. So I suggest to go for long trades with good support levels.
But as momentum is bearish we can have good short trades as near previous resistance levels. Scalping in both directions gives result today.
I shared the levels for buy and sell orders in my picture.
Buy 1802 SL 1788 TP 1815
Sell 1815 SL 1819 TP 1804
Please share your thoughts
There is good support near 1804 and 1798 levels. So we can go for long near these levels with SL 1788 and TP 1815.
Momentum is still bearish but trend is positive as we are able to see higher highs everyday. So I suggest to go for long trades with good support levels.
But as momentum is bearish we can have good short trades as near previous resistance levels. Scalping in both directions gives result today.
I shared the levels for buy and sell orders in my picture.
Buy 1802 SL 1788 TP 1815
Sell 1815 SL 1819 TP 1804
Please share your thoughts