GA currently is below the bank zone of 1.800 flat. It showing signs of a downtrend and it just broke structure and is retesting the 8 MA. I entered with a 30 pip stop loss and 100 pip tp.
I noticed that gold was retracing on the day chart, so i applied the Fib retracement. After that i noticed that it was retracing off the 50 mark and forming a double bottom together. My moving avgs. are aligning too. I have multiple confluences on this trade with and outstanding risk to reward ratio.
As Eurusd apporaches the 4 hr resistance line it should start to show reversal on the lower time frames. The chart may retest the resistance bar before it out breaks and TP.
