Trade Recommendation: Gold

The price diverges with RSI and MACD. It gives us a trend reversal signal. RSI confirms price reversal from 1260.00 level and MACD supports upward movement. The market is going to move high and it gives us a new buy opportunity. Pending orders can be placed at 1276.00 level. Stop orders must be below the local swing low at 1258.00 level. Profit targets are 1300.00 and 1350.00 levels. The daily chart supports upward movement and it make the buy signal more reliable. If the price drops below 1260.00 support level, the next reversal zone will be at the daily uptrend line and 1250.00 level. Don’t risk more than 3% from your deposit in this trade.

Market: Gold
Buy: 1276.00
Stop: 1258.00
Profit Targets: 1300.00 and 1350.00

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.