GOLD ready to push for 2140 and the 618 extension?
Updated
Gold has recently broken out of a bearish channel has retraced back to the 382 fib level. This predicts that price will head towards the 618 extension located at the 2140 region highlighted.
Price reacted nicely within the buy zone between 382-618 levels and is not poised to push higher.
BULLS PLAN:
- Buy dips at support and wait for role reversals
- Use lower time frames to enter into long positions and keep stop loss at sensible levels
BEARS PLAN:
- Wait for resistance levels and look for key data releases
Price reacted nicely within the buy zone between 382-618 levels and is not poised to push higher.
BULLS PLAN:
- Buy dips at support and wait for role reversals
- Use lower time frames to enter into long positions and keep stop loss at sensible levels
BEARS PLAN:
- Wait for resistance levels and look for key data releases
Trade active
Price breaks out of short term bullish flag pattern for entries around 1966/1967
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