Hey traders,
Analyzing a weekly time frame on Gold I noticed a very peculiar zone of confluence.
We see a perfect match between a major rising trend line (connecting higher lows) and 382 retracements of multiple impulse legs.
The underlined green zone gives us a perfect demand area to catch a potential bullish move.
Keep monitoring this zone and look for a confirmation on a daily as a signal.
Will the price respect this zone?
What do you think?
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Note
Check my new analysis on EURGBP: 
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.