Hello traders
#Gold rose 7% = 189$ from 2602 to 2790 and failed to reach 2800.
We are in profit-taken phase and this could continue.
We are in strong Up-trend for the long-run, however after 7% rise we are watching a correction.
The next levels to watch are 2717 which is the 38.2% fibo level, then 2700 which is 50% fibo.
The upcoming resistance is 2750 then 2780 then 2800 then 2830
Trade set up
Buy @ 2717 with SL at 2710 only if price dipped under 2717 then rose back above it.
if 2717 is breached,
Buy @2705 with SL at 2697 only if price will dip and start to show reversal aound the 2700 area.
Trade careful.
#Gold rose 7% = 189$ from 2602 to 2790 and failed to reach 2800.
We are in profit-taken phase and this could continue.
We are in strong Up-trend for the long-run, however after 7% rise we are watching a correction.
The next levels to watch are 2717 which is the 38.2% fibo level, then 2700 which is 50% fibo.
The upcoming resistance is 2750 then 2780 then 2800 then 2830
Trade set up
Buy @ 2717 with SL at 2710 only if price dipped under 2717 then rose back above it.
if 2717 is breached,
Buy @2705 with SL at 2697 only if price will dip and start to show reversal aound the 2700 area.
Trade careful.
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signalsview.com
Contcat us to activate systems and access trading signals
Contcat us to activate systems and access trading signals
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.