Gold is forming new low with in the bigger daily correction and testing the 618 of fib lines.
How to trade.
1. Watch 618 and look for buy
2. Wait for the 1st impulse on 15 minutes time frame and join.
3. Look for buy breakout after having 15 minutes correction.
In case price keeps falling and we dont see any price action at 618 or 786 and close below the previous low then it will invalidate the buy setup.
Please support the setup with your likes, comments and by following on TradingView thanks
Watch for more upside.
We can see what a strong resistance we have on the way up preventing the price from increasing now (at 1,209) and how few evidences and obstacles we have when we speak of a drop.
I made a chart like this 1 month ago when the price was 1205 and since then gold is down 20 usd.