From last day closed price, we can see that Gold was create a new high area from the past 2 weeks.
The Double Bottom pattern, that we recognized about a week ago could give an indication for the bottom of the correction. The price keeps bouncing every time it touched the 61.8% Fibo.
From this information and a little bit confirmation, I took a long position in Gold @1283.50 with Stop Loss @1270.50.
If Gold prices can stay above $1280, the former Resistance will become support, which is good for our position.
Good luck and hopefully, we have a nice profit.
Please help me with the " Like " button if you think this analysis helpful.
Thanks and have a nice weekend!!
The Double Bottom pattern, that we recognized about a week ago could give an indication for the bottom of the correction. The price keeps bouncing every time it touched the 61.8% Fibo.
From this information and a little bit confirmation, I took a long position in Gold @1283.50 with Stop Loss @1270.50.
If Gold prices can stay above $1280, the former Resistance will become support, which is good for our position.
Good luck and hopefully, we have a nice profit.
Please help me with the " Like " button if you think this analysis helpful.
Thanks and have a nice weekend!!
