Gold Bearish Daily Outlook still have Bullish Potential
Welcome to TradrHq, We provide Technical Analysis for a selected currency pairs and Index
Although price is on an overall bullish trend on the W1 and M time-frame if we zoom in to the daily time-frame we can spot price in a daily selling zone. The Sell zone is supported by a H4 support level (1827) and daily support level (1863). What does this mean? Well if we continue to zoom in the time-frame to the H4 We can spot a bit better the bullish momentum picking up. This gives us to scenarios. The first is a break of the daily trendline which will support the weekly time-frame 38.2% Fibonacci retracement. If the H4 trendline is broken then that means that our Daily trendline has been tested and rejected giving price the chance to revisit (1767) 50% Fib lowest level price reached on the weekly time-frame.
Target #1: Break of Daily trendline - 1950
Target #2: Break of H4 trendline - 1767
Use 1% -5% risk per Position!
(Remember to use stop loss to limit your losses and protect your account !)
LEAVE US A COMMENT SO WE CAN KEEP OUR COMMUNITY ALIVE AND ENGAGED
GOOGLE [TRADRHQ] for our more in depth break down of our strategy and how we analysis the markets.
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TradrHqCeo
Although price is on an overall bullish trend on the W1 and M time-frame if we zoom in to the daily time-frame we can spot price in a daily selling zone. The Sell zone is supported by a H4 support level (1827) and daily support level (1863). What does this mean? Well if we continue to zoom in the time-frame to the H4 We can spot a bit better the bullish momentum picking up. This gives us to scenarios. The first is a break of the daily trendline which will support the weekly time-frame 38.2% Fibonacci retracement. If the H4 trendline is broken then that means that our Daily trendline has been tested and rejected giving price the chance to revisit (1767) 50% Fib lowest level price reached on the weekly time-frame.
Target #1: Break of Daily trendline - 1950
Target #2: Break of H4 trendline - 1767
Use 1% -5% risk per Position!
(Remember to use stop loss to limit your losses and protect your account !)
LEAVE US A COMMENT SO WE CAN KEEP OUR COMMUNITY ALIVE AND ENGAGED
GOOGLE [TRADRHQ] for our more in depth break down of our strategy and how we analysis the markets.
ENRICH YOUR LIFE THROUGH LEARNING
TradrHqCeo
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