zhipengcfel

Support and resistance levels for gold

FX:XAUUSD   Gold/U.S. Dollar
Gold             got supported at 0.618 fib level and rising support line. It seems that gold             is now in a more flat rising channel (red colour). Pay attention to the red bearish line. It will confirm more uptrend if it can break it up. Otherwise gold             might retrace back to the support line again.

Trading plan:
Go long if oil             retraces back to the support line at 1210~1220
SL at 1199;
TP1 at 1255
TP2 at 1276
TP3 at 1293

Good luck for everyone!
Comment: TP1 touched! The moving up is a clear five waves. After the short retrace it should go up again for TP2 and TP3.
Comment: TP2 touched! Five waves up has completed likely. Wait for the retrace back and go long again.
Comment: TP3 touched. All of longs were closed. The price was rejected back from red channel line. I will watch carefully what it will go and might open short positions.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out