It was a pity yesterday that gold did not retrace much and continued to rise. Although it was known in advance that it would rise again, it did not fall back to the support level. Chasing the rise is risky, so there is nothing to feel sad about.
As I often say, opportunities will appear at any time, but if you ignore the risks and trade, you may lose everything at once.
From the 1H chart trend, the current gold price has risen to 3380 and encountered resistance, which is exactly 0.618 of the Fibonacci retracement of 3500-3200. Therefore, there is resistance here. If you want to continue to rise, you must go through some adjustments.
Yesterday's 3350 has turned from resistance to support, and this is also the position of 0.5, so my strategy today is to wait for the retracement of 3350-3360 to continue buying bullish.
As I often say, opportunities will appear at any time, but if you ignore the risks and trade, you may lose everything at once.
From the 1H chart trend, the current gold price has risen to 3380 and encountered resistance, which is exactly 0.618 of the Fibonacci retracement of 3500-3200. Therefore, there is resistance here. If you want to continue to rise, you must go through some adjustments.
Yesterday's 3350 has turned from resistance to support, and this is also the position of 0.5, so my strategy today is to wait for the retracement of 3350-3360 to continue buying bullish.
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👊Join the free Telegram group:
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👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.