Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
11 June
Video analysis:
Gold collapsed again yesterday exactly as expected after we tested minor resistance at 4215/17 & reversed form 4221.
- * Well done if you caught the short trade as we hit my targets of 4160, 4130/20 and the March low at 4099/4097.
- * A huge potential profit of up to 1015 ticks.
- * In my members Telegram group we also had the chance to sell at 4180/4185 after the CPI number.
- * I did not expect the March low at 4099/4097 to act as support so it was no surprise to see further losses & we collapsed as far as 4022 overnight.
- * Again today gains are likely to be limited despite severely overbought conditions.
- * I will be looking for indications that the market will turn around and recover but I definitely don’t see that at the moment.
- * For now we have resistance at 4100/4110 & shorts need stops above 4120.
- * If we break higher, look for resistance at 4150/4155 & shorts need stops above 4165.
- * I don’t expect the overnight low at 4022 to act as support for long.
- * If we break lower, look for 4005/4000, 3985/80, 3974/72 and even 3965/60 is possible.
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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
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Jason Sen, Director
https://www.daytradeideas.co.uk
20260611
