Hi Traders,
After a massive drop due to FOMC and the rise in DXY gold seems to have found a base at the 618 FIB retracement level as well as previous shoulder support as seen in the chart analysis.
My expectations are for gold to rise to the targeted areas.
This is obviously not a quick trade and will take some time however good profit potential can be realised here.
With gold being heavily overbought it is possible to see a decline even further into the 16xx's.
Trade with caution!
After a massive drop due to FOMC and the rise in DXY gold seems to have found a base at the 618 FIB retracement level as well as previous shoulder support as seen in the chart analysis.
My expectations are for gold to rise to the targeted areas.
This is obviously not a quick trade and will take some time however good profit potential can be realised here.
With gold being heavily overbought it is possible to see a decline even further into the 16xx's.
Trade with caution!
Trade active:
Looks like we could be seeing some re-distribution taking place for a lower low.
Areas to watch 66, 70, 76.
Potential short areas.
Not financial Advice.
Looks like we could be seeing some re-distribution taking place for a lower low.
Areas to watch 66, 70, 76.
Potential short areas.
Not financial Advice.
Trade active:
We have been met with Spring.
A key area to watch would be the touch of the TL.
This is not financial advice