Gold Long Potential
Hi Traders,
After a massive drop due to FOMC and the rise in DXY gold seems to have found a base at the 618 FIB retracement level as well as previous shoulder support as seen in the chart analysis.
My expectations are for gold to rise to the targeted areas.
This is obviously not a quick trade and will take some time however good profit potential can be realised here.
With gold being heavily overbought it is possible to see a decline even further into the 16xx's.
Trade with caution!
After a massive drop due to FOMC and the rise in DXY gold seems to have found a base at the 618 FIB retracement level as well as previous shoulder support as seen in the chart analysis.
My expectations are for gold to rise to the targeted areas.
This is obviously not a quick trade and will take some time however good profit potential can be realised here.
With gold being heavily overbought it is possible to see a decline even further into the 16xx's.
Trade with caution!
Note
With the weekly close below the 618 FIB as well as below previous market closes at left shoulder it would seem we decline more than this before we swing. A key area to watch would be the touch of the TL.
This is not financial advice
Transaction en cours
Looks like we could be seeing some re-distribution taking place for a lower low.
Areas to watch 66, 70, 76.
Potential short areas.
Not financial Advice.
Transaction en cours
We have been met with Spring. 
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.