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GOLD:Technical Analysis says "Sell"- Gold pending NFP

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GOLD

Time Frame: H4

Technical Analysis :Price forms "Sell" harmonic formation AB=CD  in the mid- term downside channel formed from 11.04.2018.

Indicators: The price is below 50-ЕМА , 100-ЕМА, 200-ЕМА  supports bears momentum

Dem(14): doesn`t provide any clear signal except that  if the value pasts 0.50 it will supports short scenario

Enter: at current level 1290-1300

SL: 1310.50  Alternative scenario: If the price move above $1310 the current downside channel will be violated and the price will continue with the main upside trend formed on 10.07.2017

 


 Trader Velizar Mitov

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