Forex Trading Library

Trade of the Day – GOLD – Heading lower to the 1260 confluence area

0 324

Gold (Spot) – Intraday – We look to Sell at 1290 (stop at 1297)

Levels close to the 38.2% pullback level of 1276 found buyers. Posted mild net daily losses but all trading confined to the previous days range, an indecisive Inside Day. Buying posted in Asia. The trend of lower highs is located at 1295. Bespoke resistance is located at 1290. Expect trading to remain mixed and volatile. Preferred trade is to sell into rallies.

Our profit targets will be 1276 and 1260

Resistance: 1290 / 1295 / 1310
Support: 1281 / 1276 / 1260


Leave A Reply

Your email address will not be published.