Gold Long
Updated
According to the 1 week timeframe, Gold still has the potential to move up, and it will go upto the 1912 level.
At first, it will retract a little bit to 1891.After that, it will shoot to 1912, then may shoot a little bit upwards, so as to trigger stop losses to sellers who might have placed their short positions at 1912 - 1915 sell limit zone; thus shooting to at least 1925.
Then gold will short afterwards up to fib level 0.38 at 1874.
Entry @ 1891 Target 1925 Sl @ 1885 R:R = 1:5
At first, it will retract a little bit to 1891.After that, it will shoot to 1912, then may shoot a little bit upwards, so as to trigger stop losses to sellers who might have placed their short positions at 1912 - 1915 sell limit zone; thus shooting to at least 1925.
Then gold will short afterwards up to fib level 0.38 at 1874.
Entry @ 1891 Target 1925 Sl @ 1885 R:R = 1:5
Note
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