Bullish Cypher on GOLD
You have a bullish Cypher pattern that is just about ready to fill on XAUUSD. This pattern will complete at 1198.20. Now depending on where you put your stops, you will have around a 1:1 R/R Ratio. Min. stops need to be below X @ 1180.12 with Target 1 at the 38.2 Fibonacci Retracement at 1223.27 and Target 2 at the 61.8 Fibonacci Retracement at 1238.75.
Now we have NFP tomorrow, so this could get blown out or hit targets in a very short time. Either way, trade your plan and follow your rules.
Good luck and good trading.
Now we have NFP tomorrow, so this could get blown out or hit targets in a very short time. Either way, trade your plan and follow your rules.
Good luck and good trading.
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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.