As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is for my own analysis and records. Please click 'Like' on top if you agree with the idea. Your comments are welcome. Thank you.
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is for my own analysis and records. Please click 'Like' on top if you agree with the idea. Your comments are welcome. Thank you.
Comment:
If you hover your mouse over price forecast rectangle, you would see the fictitious trade entry, target and stop loss levels.. Learning new tools in trading view.