Gold Spot / U.S. DollarUpdated The GOLDEN Arc Part II | Forming the lemon
Looking for entry points, if we complete the oval (or lemon, in this case), we get an ultimate bearish point of 1244.00.
We can also see that there's an intersecting support line with the 78.6% Fib line (1295.00). I believe this to be a good first bearish point.
Or I could be wrong and the Dollar could fail us all, war could break out, and Gold could jump up into the stop loss, head first.
We can also see that there's an intersecting support line with the 78.6% Fib line (1295.00). I believe this to be a good first bearish point.
Or I could be wrong and the Dollar could fail us all, war could break out, and Gold could jump up into the stop loss, head first.
Note
Stage 1 complete! TP1 reached!
Eyeing 1245 next.
Trade closed: target reached
Congrats to everyone with the patience to ride this one down! Enjoy your profits!
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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.