Given the current bullish momentum in gold, entering a buy position at these levels might not be advisable.
I’m closely watching the weekly close. If gold does not close above the previous peak, I'll consider short trades targeting the 50% Fibonacci retracement level. I'll look to buy when gold returns to more attractive levels. At present, I anticipate a corrective pullback on the higher timeframes.
I’m closely watching the weekly close. If gold does not close above the previous peak, I'll consider short trades targeting the 50% Fibonacci retracement level. I'll look to buy when gold returns to more attractive levels. At present, I anticipate a corrective pullback on the higher timeframes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.