This is an update to last weeks trading plan on Gold:
As you see even though the Fed Rate Decision event yesterday slightly altered the original pattern with a candle wick 1753, the current formation remains very similar to the June 21 - July 05 sequence. Then it was the July rally that took Gold to its 0.5 Fibonacci retracement level, this time we are starting the December rally which initially targets 1815 (0.5 Fib) and if a session closes above, then 1870 in extension. Notice how accurately the reversal formation on the RSI predicted the bottom and the current rebound we are in.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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As you see even though the Fed Rate Decision event yesterday slightly altered the original pattern with a candle wick 1753, the current formation remains very similar to the June 21 - July 05 sequence. Then it was the July rally that took Gold to its 0.5 Fibonacci retracement level, this time we are starting the December rally which initially targets 1815 (0.5 Fib) and if a session closes above, then 1870 in extension. Notice how accurately the reversal formation on the RSI predicted the bottom and the current rebound we are in.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.