GOLD H4 OUTLOOK
Goldđźš©
As you see last day USD ISM data was release on the above side from forecast almost arround 52.9 so its good for usd for bullish and bearish for gold but due to gold not break 2030 support thats why market push it on the above side but dollar can’t made big moves on the up side.
So why market going higher side and made a wick in 1h at 2064 ?? bcz 2055.60 is a liquidation point all of the sellers sitting here with 30-50 pips SL so market liquidate sellers going above at 2064 and again push down again bcz 80% of the retailers who have small equity can’t afford 100 pips SL.
now wait for closing above 2066 in 1h or 4h it will shoot at our selling area of 2072-2075 then 2083.00 -2085.50 so you can sell here for 40-50 pips reward.
If gold not cross 2066 today then it will drop towards 2033-2030 which is risky buying level.
As you see last day USD ISM data was release on the above side from forecast almost arround 52.9 so its good for usd for bullish and bearish for gold but due to gold not break 2030 support thats why market push it on the above side but dollar can’t made big moves on the up side.
So why market going higher side and made a wick in 1h at 2064 ?? bcz 2055.60 is a liquidation point all of the sellers sitting here with 30-50 pips SL so market liquidate sellers going above at 2064 and again push down again bcz 80% of the retailers who have small equity can’t afford 100 pips SL.
now wait for closing above 2066 in 1h or 4h it will shoot at our selling area of 2072-2075 then 2083.00 -2085.50 so you can sell here for 40-50 pips reward.
If gold not cross 2066 today then it will drop towards 2033-2030 which is risky buying level.
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