Looking to sell gold when it rises to 2697 expecting it to continue to fall to 2657 which was previous support.
Trade is based on higher time frame trend lines and supported by Fibonacci levels , 0.5,0.628 marked out on chart.
You can see that Gold broke the daily level of resistance as well as the 4 hour resistance too there is a chance for gold to open bearish , basing this on the last 2 daily candles , but I think we will retrace to test entry again.
As always best way to enter these trades is wait for break and retest before entering
Trade is based on higher time frame trend lines and supported by Fibonacci levels , 0.5,0.628 marked out on chart.
You can see that Gold broke the daily level of resistance as well as the 4 hour resistance too there is a chance for gold to open bearish , basing this on the last 2 daily candles , but I think we will retrace to test entry again.
As always best way to enter these trades is wait for break and retest before entering
Trade active
1340 pips hope someone else took this idea i closed outTrade closed: target reached
;-)
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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.