GOLD Daily S/R| Swing High| .382 Fibonacci| Price Action
Evening Traders,
Today’s analysis – GOLD- trading above Daily S/R where a retest is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
(.382 Fibonacci Confluence)
- MA Golden Cross
- Oscillators Bullish Control
GOLD’s immediate price action is impulsive above Daily S/R, a retest will allow for a long entry.
The Daily S/R is in confluence with the .382 Fibonacci, a pullback is likely to finish with a wick formation.
Immediate averages are crossing (200 EMA&MA), this is a signal of a bullish cross being imminent.
Both oscillators are trading in their respective bullish control zones, remaining in these regions is indicative of strength in the market.
Overall, in my opinion, GOLD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
Today’s analysis – GOLD- trading above Daily S/R where a retest is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
(.382 Fibonacci Confluence)
- MA Golden Cross
- Oscillators Bullish Control
GOLD’s immediate price action is impulsive above Daily S/R, a retest will allow for a long entry.
The Daily S/R is in confluence with the .382 Fibonacci, a pullback is likely to finish with a wick formation.
Immediate averages are crossing (200 EMA&MA), this is a signal of a bullish cross being imminent.
Both oscillators are trading in their respective bullish control zones, remaining in these regions is indicative of strength in the market.
Overall, in my opinion, GOLD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’