20.5% for gold in 120 Days, That was nice grow, but is the gold will keep growing or it is the time for sunset and starting retracement?
from first look to the chart, you can see gold reached historical resistance on the weekly frame at 1530/1550 (0.44 Fib level)
from the current performance, we looking for retrace movement from 1500/1550 to 1480/1435/1400 stop _ loss at 1565
Close above this level 1585 weekly means retracement plan failed and gold will keep growing and this case we will buy gold again with the targets at 1580/1620/1700/1780
Ps: This analysis for who trade with gold in real life, not through Forex brokers or using the leverage
Previous Trades
we ask Allah reconcile and repay
Trade closed: target reached
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Gold from 1550/1500 Hit 1484 Near TP1 we ask Allah reconcile and repay
Comment
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Gold 7.5% since our analysis we ask Allah reconcile and repay
Comment
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Close above this level 1585 weekly means retracement plan failed and gold will keep growing and this case we will buy gold again with the targets at 1580/1620/1700/1780 we ask Allah reconcile and repay
Trade closed: target reached
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Gold got closed at 1585 and achieved the target at 1620 we ask Allah reconcile and repay