Looking at the long-term analysis on the 1W view of gold, it looks like it is headed downward still. At the moment it is on a retracement up and not to be confused for trend reversal as i do not believe market is reversing just yet until it hits either/both of the 2 horizontal lines in my chart.
1st yellow line at 1130.71 here on tradingview
2nd yellow line at 1056.57 here on tradingview
As platform prices may be different, I suggest setting alerts for both lines here on tradingview and once the alerts go off, then you know it is time to look into going in on whatever platform you trade on.
Please remember to look at what indicators are telling you if you can understand some, as they would likely help you determine a suitable entry point. Also, do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the posiblity to hedge yourself, for more confident traders imo -0.06% .
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
1st yellow line at 1130.71 here on tradingview
2nd yellow line at 1056.57 here on tradingview
As platform prices may be different, I suggest setting alerts for both lines here on tradingview and once the alerts go off, then you know it is time to look into going in on whatever platform you trade on.
Please remember to look at what indicators are telling you if you can understand some, as they would likely help you determine a suitable entry point. Also, do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the posiblity to hedge yourself, for more confident traders imo -0.06% .
All comments and questions welcome, if curious about indicators I use then feel free to inquire.