OANDA:XAUUSD   Gold Spot / U.S. Dollar
Not much has changed, If you missed the last decent entries on the 50/61% levels of the Fibonacci, I would suggest to be patient and wait.The current positions are only good for scalping in my honest opinion.

As we know this formation can be broken either way, and its overdue for a decent pullback for OANDA:XAUUSD . We got as low as 1860s.

That was an extremely important entry position for those trying to get a long position. Following the fundamentals closely as we approach election time, we can see gold prices pullback even lower than 1860s.

Hopefully for those waiting to get in again at a decent entry we might see 1760s zone again. Refer to my previous analysis which goes in more detail.


Made this chart September 9th at 3am. We might face rejection at pivot point marked at 1950. Overall still in 200+ pip profits. I’d suggest securing some profits in case it dips again on us.