A possible buy trade on Gold. If it trades past the 1643.32 level, we could see it rise all the way to the highlighted supply zone.
Always remember to manage your money well.
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I would be comfortable to take buy positions around the 1.23071 region, if price is to make a pullback from it's current level. We will watch how it behaves in the highlighted zone to know the best course of action; whether to hold on to the buy or sell from there.
I will be looking for sell opportunities, to the 1.3400 region. I will however watch price at the 1.37936 level for a possible reaction before continuation of the down move.
Price having broken the 0.89960 level, I would love to see a brief retracement and rejection of that level. Upon proper confirmation, I would take a sell from that level all the way to the 0.87465 region or lower.
Previous Lower High has been broken and retested. Looking for Buy opportunities next week to the highlighted zone. If it retraces from there, we will find entry on the trend line.
Price having broken the 0.89909 level, we could see it drop more to the next zone which is 0.88732 on the lower time frame. However, it could drop lower to the 0.86740 level based on what I'm seeing on the daily time frame .
