Hi Traders,
GOLD looks to be setting up for a nice big move up, and I am keeping an eye on it due to the following
1. Price retested the falling trendline earlier on (1st week in October; around the 0.382 fibonacci zone), and has come to retest it again;
2. Price is within the 0.5 and 0.618 fib zones. This zone served as a strong support zone which could not be broken on four (4) previous occasions;
3. RSI is in oversold zone (howbeit yet to reverse)
4. Divergence being formed on the RSI.
Would be updating the idea with time. Don't forget to click the "Like" button if you like the idea :D. Your comments are welcome.
Trade with care!
GOLD looks to be setting up for a nice big move up, and I am keeping an eye on it due to the following
1. Price retested the falling trendline earlier on (1st week in October; around the 0.382 fibonacci zone), and has come to retest it again;
2. Price is within the 0.5 and 0.618 fib zones. This zone served as a strong support zone which could not be broken on four (4) previous occasions;
3. RSI is in oversold zone (howbeit yet to reverse)
4. Divergence being formed on the RSI.
Would be updating the idea with time. Don't forget to click the "Like" button if you like the idea :D. Your comments are welcome.
Trade with care!
Trade active:
Price action on the 0.5 Fib area looks good to long
Trade with care, plan your trade and All the best, mates.
Trade with care, plan your trade and All the best, mates.