Gold has hit major resistance, reversal incoming? I entered early, ignoring fundamentals for the moment.
The red slanted line is a 61.8 fibo level where gold usually rejects.
Let the winners ride! My target: 1600
Please trade at your own risk.
The red slanted line is a 61.8 fibo level where gold usually rejects.
Let the winners ride! My target: 1600
Please trade at your own risk.
Trade active
Price seems to be respecting the pitchfork and the slanted fibo which is 4 pips up from the pitchfork line and 4 pips down from the pitchfork line. Price might break above/below the pitchfork after few more tests.Trade active
Gold hit 261.8 pitchfork fibo, risk-free trade now.Trade closed manually
Closed, enough profit for me.
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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.