$XAU
Gold Daily Chart
I believe we will see a downward movement in gold to the 4987 level, which is the monthly pivot point, before it rebounds.
Therefore, if I were to advise trading, my advice would be as follows:
Sell from current levels with a stop-loss order placed above the high of the daily candle.
Set a take-profit order above the 4987 level.
Buy after the price reaches the 4987 level, where we will wait for bullish price action on the 4-hour timeframe.
Alternatively, you can buy after the price trades above the high of the daily candle.
Gold Daily Chart
I believe we will see a downward movement in gold to the 4987 level, which is the monthly pivot point, before it rebounds.
Therefore, if I were to advise trading, my advice would be as follows:
Sell from current levels with a stop-loss order placed above the high of the daily candle.
Set a take-profit order above the 4987 level.
Buy after the price reaches the 4987 level, where we will wait for bullish price action on the 4-hour timeframe.
Alternatively, you can buy after the price trades above the high of the daily candle.