Gold: Possible Buying Opportunities at Support Zones
Actualizado
The market looks oversold and it is just the question of time and the support zone where we will get a reversal signal. If the price can stay above the local support at 1928.20$ level, the reversal signal from this support will be used for buying. RSI reached the oversold zone and it will be able to support the price reversal and a further upward movement.
If the price breaks the local swing low, the next support will be at 1920.80$ which is the previous ATH. The price reversal from this zone will be able to give us a better signal for buying.
All long positions must be used with stop orders below the local swing lows and the support zones. Profit targets should be at SMAs and the key resistance levels. Risk per trade should be no more than 2% of the capital.
If you think I'm wrong with this trading idea, welcome to share your own idea. Please, support it by a chart and the arguments why we should stay away or open short trades.
If you like my work, please support it by smashing the LIKE button. I will be grateful!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price breaks the local swing low, the next support will be at 1920.80$ which is the previous ATH. The price reversal from this zone will be able to give us a better signal for buying.
All long positions must be used with stop orders below the local swing lows and the support zones. Profit targets should be at SMAs and the key resistance levels. Risk per trade should be no more than 2% of the capital.
If you think I'm wrong with this trading idea, welcome to share your own idea. Please, support it by a chart and the arguments why we should stay away or open short trades.
If you like my work, please support it by smashing the LIKE button. I will be grateful!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Nota
The price broke the support zones which could be used for buying. The price reached the 3rd zone at 1880.00$. In spite of the solid bearish signal, we should be ready to see an upward movement toward 1950.00-1960.00$ zone. 
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