Hello friends.
I saw a Strong Trendline Breakdown in Gold and Decide to share
with you my opinion.
I think Gold is in Overbought Area and It will record some correction
in coming days.
So i have some reasons for my opinion:
1-In Daily chart we can see a strong Bearish Engulfing candle (as you see in picture below)
2-in Daily chart we can see a Divergence Between RSI and Price in Overbought Area (as you see in picture below)
3-A Strong Bullish Trendline Breaks down in 1H.
4-We reach an important Resistance near the last High and psycological level of 2000.
so for this reasons i think Gold experience a little correction in coming days.
I think Gold will reach targets like 1900 an after that 1880.
I hope you like my idea and i will be happy if you share me your opinion too.
Thanks for reading my idea.
Just dont forget to set a good Stoploss and enter a trade with at least 1:1 R/R.
I saw a Strong Trendline Breakdown in Gold and Decide to share
with you my opinion.
I think Gold is in Overbought Area and It will record some correction
in coming days.
So i have some reasons for my opinion:
1-In Daily chart we can see a strong Bearish Engulfing candle (as you see in picture below)
4-We reach an important Resistance near the last High and psycological level of 2000.
so for this reasons i think Gold experience a little correction in coming days.
I think Gold will reach targets like 1900 an after that 1880.
I hope you like my idea and i will be happy if you share me your opinion too.
Thanks for reading my idea.
Just dont forget to set a good Stoploss and enter a trade with at least 1:1 R/R.