GOLD Back to the CC
Gold has enjoyed a strong impulse to the upside, pushing price into overbought territory on the 4H chart. I expect a retracement into the Classic Fibonacci “CC” zone (the 0.618–0.65 pocket) near 2,691, which aligns with prior structure and trend support.
Trade Setup:
Entry: 2,861
Stop: 2,902
Target: 2,691
This yields a roughly 4.17 R/R ratio, reflecting a solid reward if price retraces from these highs. Watch for short-term reversal signals before entering, and always manage risk accordingly.
Trade Setup:
Entry: 2,861
Stop: 2,902
Target: 2,691
This yields a roughly 4.17 R/R ratio, reflecting a solid reward if price retraces from these highs. Watch for short-term reversal signals before entering, and always manage risk accordingly.
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.