Gold is approaching very important SR zone..
Technically:
- 1250 (0,5retr of whole swing + 1.272 of 4th wave + 1.272 Fibo uptrend channel)
- 1260 ( 0,618retr of whole swing + 2.618ext of 4th wave)
Golden spot : 1256 (2,618 downtrend Fibo channel + 1.618 uptrend Fibo channel + 0.618retr of whole geometrical shape)
I expect downtrend pressure from that area.
Trade responsibly.
Technically:
- 1250 (0,5retr of whole swing + 1.272 of 4th wave + 1.272 Fibo uptrend channel)
- 1260 ( 0,618retr of whole swing + 2.618ext of 4th wave)
Golden spot : 1256 (2,618 downtrend Fibo channel + 1.618 uptrend Fibo channel + 0.618retr of whole geometrical shape)
I expect downtrend pressure from that area.
Trade responsibly.
Comment:
We are 1300 ticks from the entry! :). Move stop to BE. I will update with another entry since I expect a small retracement before...