GOLD: Will price fill the imbalance of 1983 region?
Updated
Gold rejected at 2078 and dropped down to 2030 where it had some correction in the price movement. Today price touched $2050 and from that area we saw a strong selling pressure, if price do continue to drop, we may see it hitting 2020$ key level first and then 2000$ key level will be our second area of exiting the trade. Though 1980$ is our final target.
Second scenario is where we might see price filling the buy side price void area in the region of 2065$ if that is the case then it would likely to occur after the news volatility kicks in tomorrow.
So what do you think about gold future?
Second scenario is where we might see price filling the buy side price void area in the region of 2065$ if that is the case then it would likely to occur after the news volatility kicks in tomorrow.
So what do you think about gold future?
Trade active
Gold drop from our first entry dropped around 250+ pips and then once the market settled price touch our second area of entry and now dropping 90+ pips. We will have to monitor the price action carefully, from this reason we can see a nice drop of 600-700 pips idea. Added the link here of how price moved we have first entry that we took 2050$ and we have second entry from 2063$.
Note
Dropped from 2064 point to 2017$ making it around 437 pips dropped. Great we had pin point entry. Note
Gold had retraced back to the 2060$ region after dropping 450+ PIPS. And then drop again, until 2002 which gave us nice profit of 620+ PIPS. On Friday Gold pushes up to $2040 region making it a third great opportunity to sell, Gold.
Note
600+ Pips price came to $2040 region and then dropped as explained in our previous comment. Still expecting price to drop further. Trade closed: target reached
720+ PIPS TP HIT
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