From TradingView · · 30s
Gold Price Action Sets Up Traders
Gold traders spot high-risk setups near 4200 level.
In brief
Gold traders spot high-risk setups near 4200 level. Gold price action confirms sell zones at 4200 with targets near 4180. Originally reported by TradingView.
Gold price action
Traders caught two setups near 4200 level with minimal drawdown.
“price had rallied up during the Asia session which had swept the liquidity of previous highs”
Sell setup confirmed
Price confirmed bearish reaction at 4200 level before targeting 4180.
“the target was a simple 1:3rr but also an area of mitigation where I was expecting a reaction between 4180/4165”
Buy setup confirmed
Price moved out of 4180 zone to target 4220 with weekend closure.
“the targets are for price to continue higher into the 4220 area however because of price coming to the end of the week it is safer to target previous highs and close the position”
The big picture
Gold price action confirms sell zones at 4200 with targets near 4180.
