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Commodities Trading Ideas: Gold Holds below 1650, WTI stable after the drops

17 Oct,2022
Commodities Trading Ideas: Gold Holds below 1650, WTI stable after the drops

Strong US dollar waighs down on Gold

Trading Idea: Trending Down

Entry Point Stop Loss Take proft 1 Take Profit 2
1665 1685 1630 1612

Comment: Trading within a bearish technical pattern favors the fall. However, RSI and MACD are flat which suggests range trading

Order Type: Sell Limit

Risk-reward ratio (SL to TP 1):  1:1.75

Risk-reward ratio (SL to TP2):   1:2.65
 


Silver continue to trade in a bearish channel

Trading Idea: Trending Down

 

Entry Point Stop Loss Take proft 1 Take Profit 2
18.70 19.05 18.10 17.78

Comment: Trading within a bearish channel favors the fall. However Technical indicators suggests a reversal

Order Type: Sell Limit

Risk-reward ratio (SL to TP 1):  1:1.71

Risk-reward ratio (SL to TP2):   1:2.618


WTI retreats below $85.50

Trading Idea: Trending Down

Entry Point Stop Loss Take proft 1 Take Profit 2
85.80 88.40 83.20 79.00

Comment: Trading within a bearish channel and below moving averages favors the fall. However breaking the support level is required to confirm the trend

Order Type: Sell limit

Risk-reward ratio (SL to TP 1):  1:1

Risk-reward ratio (SL to TP2):   1:2.618


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