GOLD 4HR SHORT
looking for a good short opportunity on gold today based on the following ...
gold has been in a range since the end of may but today marks the potential for a bearish breakout, Powell's fed testimony drops at 15:00 today which i believe will give the market the strength to make its next move.
looking at recent price action we can clearly see the market making consistently lower highs lending bearish sentiment to market bias, at 11am yesterday price smashed through the psychological level at 1940 shortly after retesting the broken support and now looks to be moving down.
so depending on the fed reports outcome i would look to enter short after a strong break through the 1920 level, trade targets are 2:1 rr ratio which means stop loss around 1950 and take profit at 1880
i always welcome feedback to improve my analysis so feel free to give some. ;)
gold has been in a range since the end of may but today marks the potential for a bearish breakout, Powell's fed testimony drops at 15:00 today which i believe will give the market the strength to make its next move.
looking at recent price action we can clearly see the market making consistently lower highs lending bearish sentiment to market bias, at 11am yesterday price smashed through the psychological level at 1940 shortly after retesting the broken support and now looks to be moving down.
so depending on the fed reports outcome i would look to enter short after a strong break through the 1920 level, trade targets are 2:1 rr ratio which means stop loss around 1950 and take profit at 1880
i always welcome feedback to improve my analysis so feel free to give some. ;)
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.