The first major resistance that needs to be broken for Gold is between the $1724 - $1734 price arena. However, for me, a closure below the 23.6% Fibonacci on the 9th of August suggests a further downtrend with likely rejection at $1,706 area but because we do not really trade certainty for high probability I will wait for price action at market open to see what happens before jumping into any trade on Gold.
If $1,706 is violated then we may see a retest of $1,680 before another rally up. if $1,680 gets violated then the next key levels to watch out for on the downside are $1,641 & $1,573. I am staying very neutral for now and would wait for price action to decide.
Regards
If $1,706 is violated then we may see a retest of $1,680 before another rally up. if $1,680 gets violated then the next key levels to watch out for on the downside are $1,641 & $1,573. I am staying very neutral for now and would wait for price action to decide.
Regards
Nota
XAUUSD working at that $1,734 price level. Hoping the current 4HR candle closes convincingly above that level. I will trade to 38.2% fib level at around $1,760 ARENA and wait to see what price does around there before entering a new trade. Looking for a good buy opportunity.
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.