MarcsPal

GOLD | BUY on Correction

Long
MarcsPal Mis à jour   
FX_IDC:XAUUSD   Or / Dollar Américain
The lower (yellow) trendline coincides with the 100 EMA (gray) which indicates a strong area of support and this trendline also crosses with the next monthly Pivot-Point and also with this weeks Pivot-Point which makes this support zone super strong (I marked it with a yellow circle).

Next up, we have a strong resistance where the price is right now because the weekly R1 Pivot-Point coincides with the drawn resistance zone. If this resistance holds, then we have our trade set up:

Wait for pullback to lower (yellow) trendline and/or 100 EMA, then BUY (on August 1st/2nd/3rd).
Commentaire:
We did get the correction move downwards but pushed straight through downwards. This plan is no longer valid!
Commentaire:
If you are in a short trade, take profit and not just walk, RUN!
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.