XAUUSD: The 0.618RET and Bullish AB=CD
Updated
The market drops well but it will face strong support next.
The 0.618RET of previous rally is at 1245.3.
Meanwhile the bullish AB=CD will complete at 1244 level and the 1.618REXT of B-C is at 1246.2.
Additionally, the good Demand Zone also works at 1240-1245 levels.
So it is good to buy at 1240-1245 levels when the price enters and gives signals in the PRZ.
SL: below 1235
TP1: 1262
TP2: 1275
TP3: 1283 and further more
The 0.618RET of previous rally is at 1245.3.
Meanwhile the bullish AB=CD will complete at 1244 level and the 1.618REXT of B-C is at 1246.2.
Additionally, the good Demand Zone also works at 1240-1245 levels.
So it is good to buy at 1240-1245 levels when the price enters and gives signals in the PRZ.
SL: below 1235
TP1: 1262
TP2: 1275
TP3: 1283 and further more
Trade active
Trade closed: stop reached
Bad luck, the slump hit the SL. Just 190 pips were taken at most.
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