XAUUSD - A trading setup regarding GOLD
Gold is fighting with the 0.5 fib extension at this level, a break above can lead to a test of the golden pocket.
If the price rises to the 0.618 level there is a high probability of rejection and leading to the lower level of the channel at 1600$-1650$ range.
If the price rises to the 0.618 level there is a high probability of rejection and leading to the lower level of the channel at 1600$-1650$ range.
Buy high, sell low
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