Gold - Intraday - We look to Sell
Trading within a Corrective Channel formation.
We have a 78.6% Fibonacci pullback level of 1922 from 1933 to 1882.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return. Further downside is expected although we prefer to set shorts at our bespoke resistance levels, resulting in improved risk/reward.
Our profit targets will be 1900 and 1849
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1690
Trading within a Corrective Channel formation.
We have a 78.6% Fibonacci pullback level of 1922 from 1933 to 1882.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return. Further downside is expected although we prefer to set shorts at our bespoke resistance levels, resulting in improved risk/reward.
Our profit targets will be 1900 and 1849
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1690
Trade active
Trade closed: target reached:
$1900 target has been reached!
