* Gold is in its Selling zone now as per the analysis done in one day time frame,
Reasons for Selling...
*Gold is now ready to touch its Resistance trend line, which indicates selling in Gold. Gold is moving in parallel channel and after touching of upper resistance of parallel channel, now moving towards down in parallel channel.
*Gold hit 61.8% % level of Fibonacci retrenchment level of previous down trend and rejected, according which retrenchment may over in this zone and Selling on the cards.
*Gold Completed 5th eave of Eliot wave theory and completed first wave of Correction (A), now Gold will supposed to form second wave of correction B (after 5th wave, 1st correction wave A, then impulse B, then Correction C). Hence Selling in Gold May occur.
* Gold has been rejected by the Resistance Zone ( a cluster of resistances), Which stop the Bulls to move further.
* Stochastic Indicator is in neutral level but suggesting downward movement, Hence Selling on the cards in Gold.
*MACD also in neutral condition, Hence, Selling may occur in Gold.
Trading tips (for long term):
TP1: 1730
TP2: 1700
TP3: 1678
TP4: 1600
SL: 1818-1824
Best of luck Never risk 2% of principal to follow any position.
Reasons for Selling...
*Gold is now ready to touch its Resistance trend line, which indicates selling in Gold. Gold is moving in parallel channel and after touching of upper resistance of parallel channel, now moving towards down in parallel channel.
*Gold hit 61.8% % level of Fibonacci retrenchment level of previous down trend and rejected, according which retrenchment may over in this zone and Selling on the cards.
*Gold Completed 5th eave of Eliot wave theory and completed first wave of Correction (A), now Gold will supposed to form second wave of correction B (after 5th wave, 1st correction wave A, then impulse B, then Correction C). Hence Selling in Gold May occur.
* Gold has been rejected by the Resistance Zone ( a cluster of resistances), Which stop the Bulls to move further.
* Stochastic Indicator is in neutral level but suggesting downward movement, Hence Selling on the cards in Gold.
*MACD also in neutral condition, Hence, Selling may occur in Gold.
Trading tips (for long term):
TP1: 1730
TP2: 1700
TP3: 1678
TP4: 1600
SL: 1818-1824
Best of luck Never risk 2% of principal to follow any position.
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Giao dịch đang hoạt động:
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🟢CONTACT FOR FOREX LEARNING:
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🟡 DISCLAIMER: Not financial advice.
Educational purposes only.
