Gold retraced 61.8% of previous rise, it tooked support perfectly from 61.8% and lower bollinger band on daily time frame, and it had once again managed to hold above the RK's stop loss line on the closing basis, after taking support & closing that doji type red hammer candle, next candle closed positive and also given good follow up upwards, also buy signal generated in RK's Magic Buy.
Most possibly it is confirmation that reversal started now and may be wave ii completed and wave iii can unfold.

retraced 61.8% levels

macd in hourly positive above zero line

macd in daily converging towards upwards

rsi in hourly uptick


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However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!

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I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.