Disappointing. We are still struggling with the 7MA. No way to go beyond. But reaching the median line of the grey pitchfork is still the target. Maybe tomorrow as stochastic is getting better…
If you are bullish on gold, you can:
- Buy gold if it pulls back on the bottom of the grey pitchfork (buying right now would be dangerous as we face the 7MA). Target: 7MA. Stop loss: if close under the grey pitchfork
If you are bearish on gold, you can:
- 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.
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