Oct. 19 – Gold Hit’s 40 Pips Profit – Buckle Up for Next Trade?
What’s up fellas. Our forex trading signal on Gold helped us secure nearly 40 pips in Gold. As discussed in our previous update Gold Comp
What’s up fellas. Our forex trading signal on Gold helped us secure nearly 40 pips in Gold. As discussed in our previous update Gold Completes 50% Retracement – What’s Next. For now, the technical side is also lining up for a potential trade setup.
Gold // XAUUSD – Technical View
There are loads of technical indicators that are suggesting a bearish trend but at the same time, it signals a potential for the retracement. Let's take a look.
– On the daily chart, the Gold closed the day forming a "Spinning Top" which is followed by a bearish momentum. It means, the bearish trend of Gold is lacking momentum.
– Stochastic and RSI are in the oversold zone. Which signifies that entering a sell here can be risky as the investors may take profit.
Gold – 2- Hour Chart – Fibonacci Trading ?
– Gold has completed the 61.8% Fibonacci retracement at $1,278. That's making this level highly significant for today. Below this, it has probability of targeting $1,271 while above this it can go for $1,288.
Gold //XAUUSD – Trading Plan
Today $1,281 and $1,278 are very crucial trading levels for today. Gold can trade in these ranges. Taking a sell position below $1,281 seems to be a good idea with the first target of $1,278 and $1,272. Good luck and trade with care!
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals