Good. Today’s candlestick is nice. The lower shadow is very long which means that some traders/investors bought gold while it was cheap today. Stochastic keeps improving, MACD crosses its signal line and momentum rises now.
If you are bullish on gold, you can:
- Buy gold if it pulls back on the 7MA. Target: upper black trend line. Stop loss: if close under 7MA.
If you are bearish on gold, you can:
- Short sell gold when it the upper black trend line. Target: 20MA. Stop loss if close above upper black trend line.
Have a good trading day
This is not advice; this is just what I would do.
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