Got but a bit worrying. The trend is still extremely bullish but supertrend stopped gold today. Pull-back on 20MA is still expected but it would be foolish to trade this scenario!
Next challenge is to get rid of the supertrend. Stochastic is in great shape. Momentum and Macd look pretty good now!
If you are bullish on gold, you can:
- Buy gold if it pulls back on 7MA. Target: 1145 (next resistance). Stop loss if close below 20MA.
If you are bearish on gold, you can:
- Short sell gold near to supertrend. Target: 20MA. Stop loss if close above supertrend.
I’m personally bullish
Have a good trading day
This is not advice; this is just what I would do.
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