Gold moves in the pivot area for today after yesterday having broken R2 but still back down. wich is the price breaks down the pivot down there is a chance to continue the pattern, but if the price breaks the previous high then the chance to continue move up.
Prices now have formed a bearish candlestick.
Daily Pivot:
R4 1235.23
R3 1223.78
R2 1212.33
R1 1206.26
Pivot 1200.88
S1 1194.81
S2 1189.43
S3 1177.98
S4 1166.53
Option:
-Open short positions
-TP1 at the first daily support (S1)
-TP2 at the second daily support (S2)
-Economic data today will add to volatility, there is a chance that prices will pass through the second daily support.
-SL can be placed on the previous swing high pivot
-Wait for confirmation to open a position
Prices now have formed a bearish candlestick.
Daily Pivot:
R4 1235.23
R3 1223.78
R2 1212.33
R1 1206.26
Pivot 1200.88
S1 1194.81
S2 1189.43
S3 1177.98
S4 1166.53
Option:
-Open short positions
-TP1 at the first daily support (S1)
-TP2 at the second daily support (S2)
-Economic data today will add to volatility, there is a chance that prices will pass through the second daily support.
-SL can be placed on the previous swing high pivot
-Wait for confirmation to open a position
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