Gold long targeting 2120
Next week i intend to buy gold with sl 2040 aiming at 2120. Technically gold is forming a W pattern in daily and after making a higher low it is aiming to make a higher high. Fibonacci suggest that the W will end around 2120 and from there we might see a correction to 2060 area. Fundamentally the rising tensions in the middle east suggest further rise in gold prices as a safe heaven in conflict times.
If you like my idea boost it, comment and feel free to share it with other yraders.
Good Luck!
If you like my idea boost it, comment and feel free to share it with other yraders.
Good Luck!
Trade active
Trade active from 2046, running 120 pips, taking partial profits and putting my sl on entry now.Order cancelled
Trade close with 120 pips in profit.
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.