GOLD // GO DOUBLE TOP/BOTTOM
Hello Trader im back
Alright, let’s follow the storyline of gold here.
Based on fundamentals, the Central Bank is not inclined to cut the interest rates that have been set. This indicates that the USD is gaining investors’ attention, and gold is likely to weaken.
Now, if we look at the technical side, the gold price is currently at a resistance level. This opens up an opportunity for us to SELL on tomorrow, July 29th.
// LOW-RISK ZONE
Entry: 2433 - 2420
Take Profit (TP): 2365
Maximum TP: 2356
// HIGH-RISK ZONE
SELL Entry: 2392 - 2399
Stop Loss (SL): 2401
TP: 2365
Maximum TP: 2356
Keep in mind that if we proceed with the sell, there might be a double bottom pattern forming, which could prompt us to buy when that pattern occurs.
Happy trading!" 📈🤑
Remember, trading involves risks, so always make informed decisions and manage your positions carefully. Good luck! 😊🌟
Alright, let’s follow the storyline of gold here.
Based on fundamentals, the Central Bank is not inclined to cut the interest rates that have been set. This indicates that the USD is gaining investors’ attention, and gold is likely to weaken.
Now, if we look at the technical side, the gold price is currently at a resistance level. This opens up an opportunity for us to SELL on tomorrow, July 29th.
// LOW-RISK ZONE
Entry: 2433 - 2420
Take Profit (TP): 2365
Maximum TP: 2356
// HIGH-RISK ZONE
SELL Entry: 2392 - 2399
Stop Loss (SL): 2401
TP: 2365
Maximum TP: 2356
Keep in mind that if we proceed with the sell, there might be a double bottom pattern forming, which could prompt us to buy when that pattern occurs.
Happy trading!" 📈🤑
Remember, trading involves risks, so always make informed decisions and manage your positions carefully. Good luck! 😊🌟
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.