Gold Long
According to the 1 week timeframe, Gold still has the potential to move up, and it will go upto the 1912 level.
At first, it will retract a little bit to 1891.After that, it will shoot to 1912, then may shoot a little bit upwards, so as to trigger stop losses to sellers who might have placed their short positions at 1912 - 1915 sell limit zone; thus shooting to at least 1925.
Then gold will short afterwards up to fib level 0.38 at 1874.
Entry @ 1891 Target 1925 Sl @ 1885 R:R = 1:5
At first, it will retract a little bit to 1891.After that, it will shoot to 1912, then may shoot a little bit upwards, so as to trigger stop losses to sellers who might have placed their short positions at 1912 - 1915 sell limit zone; thus shooting to at least 1925.
Then gold will short afterwards up to fib level 0.38 at 1874.
Entry @ 1891 Target 1925 Sl @ 1885 R:R = 1:5
Note
Close the trade
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.