Although the movement of the gold price down a bit restrained, but the trend is still dominated by sellers quarterly aka strong down trend.
Let us consider the condition of the real indicator of gold trading today
Seen on TF monthly, weekly MA has entered into a monthly normal BB area, which is above the sd-1 BB monthly. while the direction of MA weekly flat inclined slightly downward.
In TF weekly, daily MA is also already in the normal area of the BB weekly, namely on the sd-1 BB while the direction of MA daily weekly sharply downward.
as we all know to change the trend in total required strong price movements and if that does not happen then the reversal will occur in phases where conditions on BBMA strong down trend will be changed to a flat reference.
Taking this approach, we tried to pull hypothesis, the possibility of the price of gold will try to retest the area 1230s, to determine the direction of the trend further with the proviso weekly MA position remained in the normal area monthly.
To strengthen the analysis, we should have an upper limit and a lower limit of the price movement of gold. While this area try to observe 1204 as the lower limit, if the price can play around this area then chances buy can make the choice.
Have a nice Trade
No comments:
Post a Comment