Gold Neutral idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All major timeframes on gold are now bearish after last week. Clearly we are in a new bearish trend and we will look to continue with it.
Ideally, price action retraces to form structure closer to 1800.00 resistance and presents a great short opportunity.
Look to target lower toward major support levels.
Trade scenario 2: The other likely scenario is that price action just keeps falling. We will then have to re-analyze and come up with new potential scenarios.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All major timeframes on gold are now bearish after last week. Clearly we are in a new bearish trend and we will look to continue with it.
Ideally, price action retraces to form structure closer to 1800.00 resistance and presents a great short opportunity.
Look to target lower toward major support levels.
Trade scenario 2: The other likely scenario is that price action just keeps falling. We will then have to re-analyze and come up with new potential scenarios.
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