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Gold futures softens as coronavirus-induced lockdowns easing
Gold futures (GC) fell during the London session on Tuesday as many countries plan to ease lockdowns and reopen the economies.
God has broken the previous day’s low created in the US session yesterday and currently rally up to test the day low as a resistance. The day low from previous day is an important level for day trading. A rejection from that level could pose a great entry to initiate short position.
The immediate target is set at the non-regular trading hours low(outside US) around 1706. The strategy is based on identifying the day trading’s key levels such as the day high/low, axis line, swing high/low etc…as support and resistance for day trading, as illustrated in the video below.
Below are the potential setup for Gold futures for trading session on 28 Apr 2020.
Entry: short limit order at 1719
Stop loss: 1725
Take profit: 1706
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Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
