Gold has retested the old peak around the 1928 price level, observing in 3 short timeframes we see the following signals: – H1 timeframe: 1 Doji candlestick appears, followed by 1 bearish Engulfing candlestick
The H4:1 engulfing reversal timeframe gives a very good bearish signal at the resistance zone.
– In today’s morning and afternoon gold will sideway around 1900 -1915. In the US session, if there is a signal of a downward reversal at 1915, we can enter a Sell order with the target heading to 1890.
- Sell 1914
- SL 1920
- TP1: 1905
- TP2: 1895
- TP3: 1890