Gold: Profitable Short Trades and New Trade Opportunities
I wrote about the sell opportunities in the bullish Gold market. I could close in profit several short trades between 1725.00 and 1700.00USD using the 5-minute and 15-minute timeframes.
If you missed those trade opportunities, it is the right time to think about new ones using the daily and hourly charts.
The price is at the support zone formed by 1700.00USD and the local uptrend line. The breakout below this zone will give a sell signal. Stop orders must be placed above 1745.00USD or using the local swing hights. The profit targets should be based on SMAs.
The market could not break the previous swing high at 1750.00USD, and it gave us a bearish signal. The next bearish signals come from RSI and MACD. DMI does not support the strength of buyers, and it is another bearish signal.
The market is interesting for selling only. Don't miss new sell opportunities. Don't forget to plan your short trades before selling. Don't forget to use the proper money management!
I wish you good luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If you missed those trade opportunities, it is the right time to think about new ones using the daily and hourly charts.
The price is at the support zone formed by 1700.00USD and the local uptrend line. The breakout below this zone will give a sell signal. Stop orders must be placed above 1745.00USD or using the local swing hights. The profit targets should be based on SMAs.
The market could not break the previous swing high at 1750.00USD, and it gave us a bearish signal. The next bearish signals come from RSI and MACD. DMI does not support the strength of buyers, and it is another bearish signal.
The market is interesting for selling only. Don't miss new sell opportunities. Don't forget to plan your short trades before selling. Don't forget to use the proper money management!
I wish you good luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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