Gold - Intraday - We look to Sell
Trading within a Corrective Channel formation.
We have a 78.6% Fibonacci pullback level of 1922 from 1933 to 1882.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return. Further downside is expected although we prefer to set shorts at our bespoke resistance levels, resulting in improved risk/reward.
Our profit targets will be 1900 and 1849
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1690
Trading within a Corrective Channel formation.
We have a 78.6% Fibonacci pullback level of 1922 from 1933 to 1882.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return. Further downside is expected although we prefer to set shorts at our bespoke resistance levels, resulting in improved risk/reward.
Our profit targets will be 1900 and 1849
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1690
Trade active
Trade closed: target reached
$1900 target has been reached!
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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.
Related publications
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.