Gold is under pullback : Read my last post
Updated
As expected gold is finally under a pullback wave and price opened with a gap , this gap is now going to act as good high volume support area(2560-70).
At the time of writing this post price is facing resistance on weekly pivot(2595) and bulls need to re-claim this level on H4 to see higher levels , First resistance (Target in case of buy) that we have to watch is area at 2630-40(bearish Imbalance) and the final resistance zone as per fib is 2663-93 from where we can re load the sell for target 2530 area again.
As of now I am expecting continuation in pullback (Bullish) and my first target will be 2630 and for sell I will wait confirmation on H4 or daily Time frame.
At the time of writing this post price is facing resistance on weekly pivot(2595) and bulls need to re-claim this level on H4 to see higher levels , First resistance (Target in case of buy) that we have to watch is area at 2630-40(bearish Imbalance) and the final resistance zone as per fib is 2663-93 from where we can re load the sell for target 2530 area again.
As of now I am expecting continuation in pullback (Bullish) and my first target will be 2630 and for sell I will wait confirmation on H4 or daily Time frame.
Trade active
Moving as expectedTrade closed: target reached
2630 TP done
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