Gold Trading

Very bad day for gold. Today’s sell off made gold hit the bottom of the orange Channel. There is a new Andrews pitchfork which median line has been touched already. Technical indicators are not good

If you are bullish on gold, you can either:
- Buy gold as close as possible to the bottom of the orange channel. Target: MA7. Stop loss in case gold close below orange channel
- Buy gold when it hits the bottom of Andrews pitchfork (stop loss if close under the pitch fork). Target is the median line


If you are bearish on gold:
- Short sell gold when it hits the MA7. Target: Lower bolinger band. Stop loss if close is above the MA7


Have a good trading day


This is not advice, this is just what I would do.