bigbax699
Corporal
- Messages
- 49
Last time i looked at gold it was sat at the support area of 1550 area. suggested it could move from there and price has since moved up a couple of hundred pips.
You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF.
Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area.
We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out
You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF.
Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area.
We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out