Setup
Bullish trend / Correction
Gold still above 50 day moving average
Daily RSI stable around 50 level
Has made a 50% correction of rally since breakout at 3400
Commentary
It seems likely gold needs to first complete an ABCD correction before moving higher - meaning one more lower low. However, support at 3920 could hold, offering good R:R opportunities - even if 4200 holds as resistance.
Strategy
Look for bullish reversals below 4000, above 3920 support
Wait for bigger pullback to the 61.8% Fib / demand zone under 3800
Bullish trend / Correction
Gold still above 50 day moving average
Daily RSI stable around 50 level
Has made a 50% correction of rally since breakout at 3400
Commentary
It seems likely gold needs to first complete an ABCD correction before moving higher - meaning one more lower low. However, support at 3920 could hold, offering good R:R opportunities - even if 4200 holds as resistance.
Strategy
Look for bullish reversals below 4000, above 3920 support
Wait for bigger pullback to the 61.8% Fib / demand zone under 3800
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Signup to my newsletter
(A weekly digest of the best trading education from around the web)
tradingwriters.substack.com/
Read and watch more educational trading content:
tradingwriters.com
(A weekly digest of the best trading education from around the web)
tradingwriters.substack.com/
Read and watch more educational trading content:
tradingwriters.com
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。