Gold market update

Gold market update

Yesterday we had a lot of volume in the tough range between 1460 and 1464 (1). As you can, indicator screams about activity of smart money.

Later, price jumped upwards (2) from the tough zone. Note a lot of demand (green delta) on that upbars and fast speed. So, we got new support level. The previous one was registered at 1450. So, rising support is the bullish indication.

Here is one more strong fact. – Price is holding above 50% level of yesterday rally lenght

Watch for minor SLKBs and NS+DB in order to try make a profits here.

While price is holding above the zone of strength (1) – we should prefer longs.

Yes, You Can Become a Professional Chart Reader

To build success in any business, you should rely on things that really work.

In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.

Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!

Enter your email to Download books

Start building your success with Chart Reading method. Let’s not go back to what wasn’t working anyway.

No spam is guaranteed.