Chart Reading :
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer profit taking.
Support : 1700, 1675, 1650 level.
Resistance : 1750, 1785, 1800 level.
Remark : Gold price tested 1750 resistance and retracing back lower having congestion range between 1727 and 1750.
Idea : Long at congestion break up above 1750, set stop loss below 1725. Not encourage to short unless for a quick scalp to short at congestion break down below 1727, set stop loss above 1750 with profit target near 1700 level.
No comments:
Post a Comment