Is Gold on its way to 1338-1340 ?As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is for my own analysis and records. Please click 'Like' on top if you agree with the idea. Your comments are welcome. Thank you.
Goldfutures
Gold Rally is great But how Far...?
Resuming From Gold monthly analysis, check it from gold analysis section under Research Edge
As the structure warrants, markets always tells us what to do...!
the triple three within a triple three has been completed and it is time for an interim rally
The gold had bounced from its strong support area @ 1043 levels and this is the main reason for the current rally and this rally is taking place in one larger degree and not in small scale which means that the consolidation in this degree will also be in that retrospect.
The rally is really powerful but do not succumb to the volatility or the movement and to find the analysis in one lesser degree with embedded video, i.e what the gold charts say in daily charts, do visit it here
www.mytradingcourses.com
Jump, jump...can she, jump, jump?We still like Goldie on the short side but we need a bounce to get involved. We will wait but it is not looking good for us. In an ideal world we would get the bounce to our zone then take out the July lows and touch $1,000. But we know the markets are anything but ideal. Keep on your watch list.