#GOLD SPOT / U.S. DOLLAR BUY position /#Trading
Hey,
I used a very popular and interesting Fibonacci retracement tool, which is very helpful to identify the level of future changes.
Here are two versions of the #BUY position!!
1. As you see and my prediction is to start a #buy position when it will pass the 50% level, where we have less risk of the downtrend.
2. Another and very good scenario is that pair should decrease around 38.2% from where it's also a useful chance to enter in bull position.
The next levels of Fibonacci retracement are given there but I suggest two different take profit levels. First TP can be Fibonacci level - 100%, which is at 1729, or you can wait for the long term forecast, which should go up and around 161.8%, it's near of 1786.
Good Luck
I used a very popular and interesting Fibonacci retracement tool, which is very helpful to identify the level of future changes.
Here are two versions of the #BUY position!!
1. As you see and my prediction is to start a #buy position when it will pass the 50% level, where we have less risk of the downtrend.
2. Another and very good scenario is that pair should decrease around 38.2% from where it's also a useful chance to enter in bull position.
The next levels of Fibonacci retracement are given there but I suggest two different take profit levels. First TP can be Fibonacci level - 100%, which is at 1729, or you can wait for the long term forecast, which should go up and around 161.8%, it's near of 1786.
Good Luck