Gold Gold Daily Video, August 23, 2024

[Sive Morten]

Good morning,

So we've got our position @ 2470$ retracement. Now we see nothing more to do. Let's move stops to breakeven and wait for Wyoming results.

 

[Brett Reynolds]

Did good yesterday. I sold $1 lot from $2508 down to $2475. I then place Buy' yesterday afternoon @ $2477 and closed out my position just 1 hour ago at $2495. I made 1% total.
I just placed another Market order Sell' @ $2500 as this is around 61.8% of yesterdays move from $2515 area. The 50% and 61% fibos are Red Hot' favourites for Gold and you need to use discretion taking into account the time of Day' etc. But Gold follows patterns of movement and retracement's and if you use a couple of smart indicators like RSI on 1 hr and 30 min chart along with these fibo's you can pick turning points.
If $2500 doesn't work today then we could see 'Jump' to $2510 area were i will look for PA again to Sell' again! If no Action and being Friday then Bullish Grabber could work and any Geo-politics over weekend could change everything.!?