The gold formed a double top after shocking in a high level for near 2 months.
The price broke out the neckline of the double top in the end of September and it is pulling back because of US PMI is bad enough during last ten years.
It will provide a good chance to sell again.
1. The 0.618RET is at 1519 and the 0.5RET is at 1508.
2. A good supply zone is at 1505-1515.
So it is good to sell at 1505-1515 when bearish signals appear in this PRZ.
SL: above 1537
TP: 1440-1450
ATTENTION: The NFP will be on in this Friday, so be careful of the price quick fluctuation. Do not hold the positions you cannot afford.
The price broke out the neckline of the double top in the end of September and it is pulling back because of US PMI is bad enough during last ten years.
It will provide a good chance to sell again.
1. The 0.618RET is at 1519 and the 0.5RET is at 1508.
2. A good supply zone is at 1505-1515.
So it is good to sell at 1505-1515 when bearish signals appear in this PRZ.
SL: above 1537
TP: 1440-1450
ATTENTION: The NFP will be on in this Friday, so be careful of the price quick fluctuation. Do not hold the positions you cannot afford.
Trade active
The price hit the 0.618RET as expected.Trade closed: target reached
Very nice!
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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.