hi all
Gold is currently trading within a 4-hour range. The price has already broken the initial trendline. Now, we are waiting for the second trendline, which is between the high of $2,672.96 and the low of $2,631.92, to break. A pullback to the 0.236% Fibonacci extension area might provide an opportunity to buy the dip and cut the position if the candle closes below $2,634.37.
**My trading strategy is not intended to be a signal. It’s a process of learning about market structure and sharpening my trading skills, as well as for my trade journal.**
Gold is currently trading within a 4-hour range. The price has already broken the initial trendline. Now, we are waiting for the second trendline, which is between the high of $2,672.96 and the low of $2,631.92, to break. A pullback to the 0.236% Fibonacci extension area might provide an opportunity to buy the dip and cut the position if the candle closes below $2,634.37.
**My trading strategy is not intended to be a signal. It’s a process of learning about market structure and sharpening my trading skills, as well as for my trade journal.**
Note
updateNote
new ATH???
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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.