The medium-term bullish uptrend was broken with ease 10 days ago and gold now finds itself close to an important support level that needs to hold if the precious metal is to move higher. The 50% Fibonacci retracement of the mid-March/early-August 2020 rally comes in around . a level that held its first real test last Friday. gold seems to be consolidating around these levels and if a break out forms then we see gold potentially ralling back to 1800s.with these outlook comes our buy entry potential
PS: entry potential varies amongst each trader and also risk to reward ratio is crucial in maintaing risk management
with that my target is EP:1775.35 (confirmation of double bottom)
1st TP:1811.04
2nd TP:1839
SL:1757.79(with concideration of liquidity stop hunt)
incase of violation ,strategy becomes invalid.......safe trading
PS: entry potential varies amongst each trader and also risk to reward ratio is crucial in maintaing risk management
with that my target is EP:1775.35 (confirmation of double bottom)
1st TP:1811.04
2nd TP:1839
SL:1757.79(with concideration of liquidity stop hunt)
incase of violation ,strategy becomes invalid.......safe trading