Gold under Pullback /correction
As dicussed in weekly analyis video and previous posts , price currently under a pullback and we have to wait for lower pullback zones for re-buying ::
- First Pullbcak zone: 2755-2760 (marked in green, first zone , price currently testing this zone)
- Second Pullbcak zone: 2735-2740 (green zone in Middle)
- Third Pullbcak zone: 2720-2725 (Last green zone, we also have first Fib support level for the cycle of 2585-2785)
Swing to Intra day Approach:
Rather than buying immediately, waiting for a deeper pullback can provide us a good risk management, looking for buy setups at these pullback zones makes sense given overall bullish trend structure remains intact,These levels align with previous structure(Swing High, Low) with Better risk-reward ratio from these lower entries.
- First Pullbcak zone: 2755-2760 (marked in green, first zone , price currently testing this zone)
- Second Pullbcak zone: 2735-2740 (green zone in Middle)
- Third Pullbcak zone: 2720-2725 (Last green zone, we also have first Fib support level for the cycle of 2585-2785)
Swing to Intra day Approach:
Rather than buying immediately, waiting for a deeper pullback can provide us a good risk management, looking for buy setups at these pullback zones makes sense given overall bullish trend structure remains intact,These levels align with previous structure(Swing High, Low) with Better risk-reward ratio from these lower entries.
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