Will Gold go down next week?
Ichimoku H1 timeframe move up and down in the range.
Last dead-cross (tenkan sen cross-down kijun sen) was met with resistance from buyers created long wicks which end up with a push up.
But the time the market closed on Friday, gold still moving up and down tightly in a tighter range.
With H1 still in down trend, although M15 and M30 seems to slowly move up, I will still go with the down trend. SL is put quite high above the kumo, but if the trend switch and golden cross happens. I would get out of the trade early without waiting for the price to cross above kumo to hit my stoploss.
Last dead-cross (tenkan sen cross-down kijun sen) was met with resistance from buyers created long wicks which end up with a push up.
But the time the market closed on Friday, gold still moving up and down tightly in a tighter range.
With H1 still in down trend, although M15 and M30 seems to slowly move up, I will still go with the down trend. SL is put quite high above the kumo, but if the trend switch and golden cross happens. I would get out of the trade early without waiting for the price to cross above kumo to hit my stoploss.
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