Gold update on 1 hour chart
Dear VIP group members,
The gold price reached today two important price areas and reversed immediately (support and uptrend line at 1865 $ & strong resistance at 1900 $).
This is an indication of the uncertainty of market participants
We expect market trading in a sideways range from 1865 $ to 1905 $ because this is a short trading week and many traders take a short break from trading.
You can trade the following setups with low risk:
Buy 1865 $ - 1870 $ / Stop loss 1848 $ / Take profit 1902 $ / invest max. 10 % of equity
Sell 1900-1905 $ / Stop loss 1911 $ / Take profit 1870 $ / invest max. 15 % of equity
The gold price reached today two important price areas and reversed immediately (support and uptrend line at 1865 $ & strong resistance at 1900 $).
This is an indication of the uncertainty of market participants
We expect market trading in a sideways range from 1865 $ to 1905 $ because this is a short trading week and many traders take a short break from trading.
You can trade the following setups with low risk:
Buy 1865 $ - 1870 $ / Stop loss 1848 $ / Take profit 1902 $ / invest max. 10 % of equity
Sell 1900-1905 $ / Stop loss 1911 $ / Take profit 1870 $ / invest max. 15 % of equity
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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