Better Buy Levels Soon
GOLD Based on my analysis, I believe Gold
GOLD is currently at a good selling level. There is potential for the price to drop down to the 0.71 Fibonacci retracement level, which could present a great buying opportunity.Stop Loss: Set just above the recent order blocks, as compared across different time frames.
While there may be better selling points ahead, the current support built above the current price level provides confidence in a sell position at this moment.
However, if this support level is broken, we should reconsider the selling strategy and potentially look for long opportunities instead.
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.