Minor trend line resistance - $1257 (trend line joining $1278.85 and $1269)
Minor support - $1242
The commodity has recovered after making a low of $1247. It is currently trading around $1255.
Gold is facing strong intraday resistance around $1257 and any break above targets $1270/$1279/$1283 in short term.
On the lower side minor support is around $1247 and break below targets $1242/$1235.
Overall bullish invalidation only below $1200.
It is good to buy above $1257 with SL around $1247 for the TP of $1269/$1278.
Kommentarer
tntsunrise
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Perfect! If short at 1257, now already win 300 pips
AlexxChan
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Looks like its going to head lower
GiacomoBarzagli
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hi! what do you think about silver? will it be short ever with SL 15,80 to TP 15,25?
Marvin
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Thanks. Are you looking for a close above this level on the hourly?
FxWirePro
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yes
Marvin
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Great thanks mate.
SamiKetonen
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So 1h candle must close above 1257 and then i can buy? Or can i buy instantly when then price go above 1257?
Marvin
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If you're asking me, I'd say it depends on your strategy and the risk you're willing to take. The earlier you enter the more the risk but the greater the reward. A break and CLOSE above on the H1 (or H4 if you want even more confirmation) is the more conservative approach. It's up to you.