Reply to thread

Message: <blockquote data-quote="DON999RU" data-source="post: 23341611" data-attributes="member: 498415">  “The Death Cross”YES, as our title suggests we are at a “death cross” on our Gold/USD daily chart! .Usually this term is applied when 200-Day Moving Average line & 50-Day MA line having a crossover .At this moment it projects a Long term bearish sentiment (Down trend), BUT…., if you are an experienced trader, back in your mind it clicks that short term reversal (an uptrend, at  this moment) is on the way before long term sentiment owns the spectacle.So, in short.., during the upcoming week, we can expect a minor corrective (up) trend. Most probably it will re-test resistance of 1284/1294 before heading south-ward.Here are the summed up possibilities for next week,1.    Short term reversal, which might test resistance levels at 1284/1294*Good chance to close running buy orders2.    Long term trend heading towards 1240/1235 range.3.    In case, by the end of the week market closes above 1302 resistance level, that would waive the red flag  to the bulls which are gone out of steam.*Always follow the cardinal rules of trading and take care of your margin, that’s your oxygen of survival.* PM to join Free whatsapp signal group.Trade responsibly!Dr.Don<img src="https://preview.ibb.co/bNExc8/111111.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></blockquote>

Top Bottom