Gold is still consolidating and continuing the multi-day range above the support at 1047. It's currently headed for the resistance at 1084. Unless there's a breakout above that level I'd watch for signals for a new move to the downside.
my advise is to open a position, even a master trader cant predict the market. just create yourown rule, there are several style that best to trade metal, thatis intraday, scalp or swing.. thats it. find rules and system that suitable for u. its not about being right or wrong or predict something to happen next(this impossible). if you find your suitable system that wins and loss ratio is great and you can accept and responsible for the drawdown, just DO IT..!!... you need track record on demo, to build your confidence. trading is not that simple as predit and trade..train your self tobe a warrior, not a PIG
forumnoob posted: i like to have advise from experienced traders, will gold rise or drop and where should i open trade and put s/l and t/p
for upcomming 3 to 5 days.
and wish the community the best in trading .
Gold is in huge down trend on weekly. It is now in pullback / retracement mode. Do not push the trade. wait. It might take far longer than 3-5 days and it doe snot mean that even then trade will work. I am bearish on gold but waiting. Tried to go short lower but got out at BE. Now it is wait time.
Oh, the trend is definitely bearish. It might climb a little higher than it is now, but it will start dropping again eventually. I actually do have longs open but I doubt I will keep them that way for much longer.
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