We are long on gold currently. We have touched the 38% of the monthly leg, which aligns with the 38% Fib level of the daily leg, and resistance area on the weekly timeframe. TP1 and TP2 are extensions of the current leg give potential targets. Price is currently testing the weekly resistance as support once more so we need to monitor price at this critical level and exit if structure breaks to the downside or let it hit SL.
Current R:R is 1:1.75.
Good luck traders be sure to like comment and share this post for more free analysis.
Current R:R is 1:1.75.
Good luck traders be sure to like comment and share this post for more free analysis.