Gold Daily Analysis 12.08.2022
Gold is still testing the 1800 level. Presently gold is in a sideways movement. We need to have atleast one candle closing above 1800 level in Daily chart for bulls to come.
Gold is in a triangle and will breakout in US session. Based on the direction of breakout we can know which side gold moves next week.
Considering the week end and high impact news we will see more SL hunting before gold finds its way.
We need a small correction upto 1770 level before gold gets enough bullish pressure. However dont go for sell here as we still dont have any bearish pressure.
Hence we can wait for gold to make a low to buy or make a new high to sell.
BUY 1778 SL 1768 TP 1798
SELL 1812 SL 1818 TP 1800
BUY 1788 SL 1782 TP 1794
SELL 1798 SL 1802 TP 1788
Gold is in a triangle and will breakout in US session. Based on the direction of breakout we can know which side gold moves next week.
Considering the week end and high impact news we will see more SL hunting before gold finds its way.
We need a small correction upto 1770 level before gold gets enough bullish pressure. However dont go for sell here as we still dont have any bearish pressure.
Hence we can wait for gold to make a low to buy or make a new high to sell.
BUY 1778 SL 1768 TP 1798
SELL 1812 SL 1818 TP 1800
BUY 1788 SL 1782 TP 1794
SELL 1798 SL 1802 TP 1788
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