Our last 2 analysis on Gold has been bang on. Clear patterns with clear entry zones.
We now have another chance to enter Gold. Looking at 2 areas where price can react.
First area is the 0.5 fibonacci level where we have a minor structure.
Second area is the 0.618 fibonacci where we have the descending trendline.
Once price approaches any of those two levels, drop down to lower timeframe and look for entry opportunities.
This could be the last chance to get in on the short before we go long.
See linked chart for the previous Gold analysis.
Goodluck and as always, trade safe!
We now have another chance to enter Gold. Looking at 2 areas where price can react.
First area is the 0.5 fibonacci level where we have a minor structure.
Second area is the 0.618 fibonacci where we have the descending trendline.
Once price approaches any of those two levels, drop down to lower timeframe and look for entry opportunities.
This could be the last chance to get in on the short before we go long.
See linked chart for the previous Gold analysis.
Goodluck and as always, trade safe!
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