Last Major analysis was violated and gold smashed past solid support @ 1764. As you can see here, price is approaching the bottom of a year-strong parallel channel which also aligns with a key support area (1670-80). Will be looking for buys at 1665-70 area. I'm suspecting that price will rise slightly throughout the night, where it could collapse around NFP time (Be careful) to our desired levels. This could finally be the end to golds year long retracement. We could be looking at a 4000pip move with 2-3 months.
Check Out my short trade on gold I was able to take
Make sure to follow
Check Out my short trade on gold I was able to take
Make sure to follow
Note
Be patient, no room for FOMO
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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.