Gold 50 % retracement
I see a nice sell setup on Gold for a day trade. So yesterday Gold dropped more than 400pips after taking the weekly high from 10 august 2022. I see a further correction before the bull trend continues as Gold is seasonally bullish from this time of the year. The fib extension is at 50 % and the price just reached 200ema. Which is double confirmation for a short setup.
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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.