This month's NFP data showed a great recovery and have seen its impact on gold very well!!!
But, now GOLD s at a position that no bulls and not even bears can unsee this level as this area holds some good support if we look at and even in weekly charts too. It is very much sure that prices have a very high probability to bounce.
What we must do?
We must take a long position here with the same target of 1730 (as initial one) and above. This region has much importance and prices must rebound from here. Moreover, we have to be reactive here and not predictive. So, wait for Monday's opening, if we have a green candle then we are going to take this trade as the recovery trade!!!
SL will be 1662.
This will be a swing trade. So, be patient target will come :)
PS - If anyone wants a recovery trade to his/her account then this is that trade. ;)
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SL - 1675