Short
GOLD W4 NOV 2020
GOLD
Short Setup
From the yearly lows of $1451.10, GOLD hasn't tested the 0.382 fibonacci retracement. With the price recently broken off a bearish flag pattern on the smaller timeframe, price is expected to test the said level soon.
38.2%-50.0% retracement level would be a favourable level for buyers to step in.
Short Setup
From the yearly lows of $1451.10, GOLD hasn't tested the 0.382 fibonacci retracement. With the price recently broken off a bearish flag pattern on the smaller timeframe, price is expected to test the said level soon.
38.2%-50.0% retracement level would be a favourable level for buyers to step in.
Note
Price has broken the 38.2% level. We could anticipate more shorts to come if price decides to retrace back to the marked area, targeted areas would be the next level of 50.00%. A strong close above the 38.2% would indicate a strong bullish bias, daily has also tested its 200 Daily EMA.
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.
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.