Hello guys
On this chart, I expect the price to rise after the market opens to the area of 1807 - 1810, which is exactly compatible with the 61% Fibonacci level.
This area is the key to the future direction of the gold price.
If this area is breached, the trend will be bullish to 1849 initially, provided stability is above 1810, with a confirmed breach of 1824.
And if the price rebounds from this area, the trend will be temporarily bearish, and it is likely to head to 1770-1765 levels, and from there we expect a rise again.
- The personal expectation is the second example, a drop to the levels of 1770 - 1765, and from there a strong rise
On this chart, I expect the price to rise after the market opens to the area of 1807 - 1810, which is exactly compatible with the 61% Fibonacci level.
This area is the key to the future direction of the gold price.
If this area is breached, the trend will be bullish to 1849 initially, provided stability is above 1810, with a confirmed breach of 1824.
And if the price rebounds from this area, the trend will be temporarily bearish, and it is likely to head to 1770-1765 levels, and from there we expect a rise again.
- The personal expectation is the second example, a drop to the levels of 1770 - 1765, and from there a strong rise
Comment:
We are now following the rise of gold and awaiting an entry signal to sell if 1810 is not breached and holds above it
Trade active:
Gold price rebounded from 1807 level in a strong way, and on this basis, the bearish scenario has now been activated