Gold - ABC to Mitigate Daily Value Gap
Updated
Gold has a daily Value Gap between $2600 and $2613.
On the intraday chart we can see price consolidating, from the Bull Channel in late September 2023.
We can see several support areas (fan lines) originating from the last major swing low.
Looking for a scenario where price breaks Point A and searches the Value Gap ( Point C) , which is in the OTE zone for a long at Fibonacci 618, completing an ABC movement.
On the intraday chart we can see price consolidating, from the Bull Channel in late September 2023.
We can see several support areas (fan lines) originating from the last major swing low.
Looking for a scenario where price breaks Point A and searches the Value Gap ( Point C) , which is in the OTE zone for a long at Fibonacci 618, completing an ABC movement.
Trade closed: target reached
It took 5 days to hit target....
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