Gold toward 2050?
A very simple overview of the market.
Monthly structure!
If you see the monthly time frame the top range 2050-2074 is about to be tested as per historical view. Market is now going for a deep test of this zone after doing a basic test at 1960.
Weekly structure!
After breaking the current high of 1980 market on the weekly time frame has tested the 1984 level and now we can expect this weekly candle to be a tail and have a good bullish movement.
Daily structure!
If you take the fib ret on the impules market tested the 0.618( Golden ratio level) today and went up. So we can expect a continuation towards the upside.
Trading advise:
Market is soon going to drop 500-1000 pips so trafe keeping this mind and don't trade from the top towards buy.
This is a good chance to buy keeping stop loss around 50-100 pips you should take the entry and with the take profit at 2030 at minimum
Monthly structure!
If you see the monthly time frame the top range 2050-2074 is about to be tested as per historical view. Market is now going for a deep test of this zone after doing a basic test at 1960.
Weekly structure!
After breaking the current high of 1980 market on the weekly time frame has tested the 1984 level and now we can expect this weekly candle to be a tail and have a good bullish movement.
Daily structure!
If you take the fib ret on the impules market tested the 0.618( Golden ratio level) today and went up. So we can expect a continuation towards the upside.
Trading advise:
Market is soon going to drop 500-1000 pips so trafe keeping this mind and don't trade from the top towards buy.
This is a good chance to buy keeping stop loss around 50-100 pips you should take the entry and with the take profit at 2030 at minimum
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