False Breakout
Updated
As we can see, Gold performed so well in the last day trading.
The price went down to below the Major Support 1256, but in the end it closed above the Major Support which is also a 23.6% Fibonacci Retracement.
Right now, the price is moving to the upper ground of the Bridge Area @1264 and also maintain to moving above this area.
The Geopolitical situation is getting more intense, the North Korean started to threaten Guam and give a power for Gold to push to higher ground.
From now we can see another opportunity to set Long Position in Gold.
Right now I initiate a Long Position with Stop Loss under the 1250 area, and target around 1296.
Good luck and happy trading.
Please click " Like " if you find this analysis helpful.
Thanks!!
The price went down to below the Major Support 1256, but in the end it closed above the Major Support which is also a 23.6% Fibonacci Retracement.
Right now, the price is moving to the upper ground of the Bridge Area @1264 and also maintain to moving above this area.
The Geopolitical situation is getting more intense, the North Korean started to threaten Guam and give a power for Gold to push to higher ground.
From now we can see another opportunity to set Long Position in Gold.
Right now I initiate a Long Position with Stop Loss under the 1250 area, and target around 1296.
Good luck and happy trading.
Please click " Like " if you find this analysis helpful.
Thanks!!
Trade active
Last time I posted this Idea.. I shared for open Long Buy Position in Gold at around 1264 to 1267..I put my Stop Loss around 1250..
Right now, I moved my Stop Loss to profit area around 1272 to 1275..
Good luck for those who follow my trade..
Thanks and happy profit !!!
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