GOLD Has been performing very well last week rallying upwards (bullish) for the whole week from prices ($1749,65) Prices went up from $1749.68 (4hr chart) just above my fib level of 23,6% right up to $1813,37 impressive which i had a target of $1830,00 in mind cause this is my target for the next gold movement.
Price rallied up closing above 38,2% fib level and carried away closing above my 50,0fib level which left prices closing at $1776,58 which is always my important and eyed level. After it went up ,closing the week with a very strong bearish signal $1792,03 coming from prices above $1810,90.
My short plan is to sell gold until it finds its next support reaching my 50,0%fib level as it will act as my critical point to execute a buy order after confirmation
Gold should sell until
Support
1st Support($1778,80)
2nd Support($1777,62)
3rd critical Support($1774,72)
Where we will look for buying orders
Good luck please comment below for more insights!!! Happy trading.
Price rallied up closing above 38,2% fib level and carried away closing above my 50,0fib level which left prices closing at $1776,58 which is always my important and eyed level. After it went up ,closing the week with a very strong bearish signal $1792,03 coming from prices above $1810,90.
My short plan is to sell gold until it finds its next support reaching my 50,0%fib level as it will act as my critical point to execute a buy order after confirmation
Gold should sell until
Support
1st Support($1778,80)
2nd Support($1777,62)
3rd critical Support($1774,72)
Where we will look for buying orders
Good luck please comment below for more insights!!! Happy trading.
Related Ideas
XAUUSD
Sphesihle_fxboot
about XAUUSD