Good Day Traders !!! Time for an update on GOLD, So we can clearly see that on the weekly and daily we have a beautiful M formation that was respected , in addition to that we can see that the price is about to form a shooting star on the 4H which can be our confirmation for a bearish market. We have retraced until the 0.618 FIb level taken on the previous impulse leg and we do expect the market to continue melting to the downside and complete the Monthly pattern. we highly expect gold to revisit the previous weekly low at the 1780 level especially that the news on Wednesday might impact the move in our advantage.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
