A rejection on low time frame and a sell opportunity

19 mar

As we discussed yesterday, gold has been showing strong bullish movement, and we highlighted the key resistance areas. Gold has now broken through all of these levels and has reached a new all-time high at 3045. However, at this price, gold has experienced a strong rejection from the 3045 level, resulting in a 100-pip move down — a quick setup for traders.

Now, we’re giving a sell call from the 3042 to 3045 area based on technical analysis. You can consider taking this entry, with TP1 set at 3030. Also, if gold breaks the 3025 price, which is its pivot point, we could see further downside movement.

For your stop loss, smaller traders can set it at 3051, while those with larger margin power may set their SL at 3055, as the next resistance area for gold is around 3050. This level could be targeted to hunt stop-losses.

Good luck to those taking this setup!

19 mar

Trade chiuso: obiettivo raggiunto

Congrats who followed our setup. Tp:1 3030 successfully achieved we are heading towards our target .