sell position on GOLD ( Price action )
In this analysis, I traded with my basic price action strategy taking a position on breaks out of the ranges.
Here we have a break out of the range on the downfall, so I took a seller position. Also, the price is under the Moving Averages of 60 and 200 which favors the downward position. Lastly, when we apply the Fibonacci tool we can see that the price is on the gold number (0,618) which is a resistance for the price when we check for a correction on a trend.
Here we have a break out of the range on the downfall, so I took a seller position. Also, the price is under the Moving Averages of 60 and 200 which favors the downward position. Lastly, when we apply the Fibonacci tool we can see that the price is on the gold number (0,618) which is a resistance for the price when we check for a correction on a trend.