YGForex

Gold Long Opportunity...BEARISH strength coming to a stop!!!

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
If we look at gold price, we can see that gold BEARISH movement has made its full extension to the downside with a 461.8% fib movement. After which, we also managed to see a nice double bottom pattern to confirm our stance. As of now, I am expecting a decent BULLISH climb and will be eyeing 261.8% fib level, also the trend resistance level. Further confirmation can be done if price break 1760 ish price level.

Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.