Last idea about the caution zone of this peroid. I think Gold should rise to 1437 too around 90 pips and Drop sharply to lower zone like charts ( Green line : buy zone ) Finally Gold will go to 1480 +
Let 's market tell ...
Commentaire
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+40 pips now Please make yr decision because Fed rate tonight. I use scaling out and keep low position and wait news to add more position again.
Commentaire
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Gold up to 1434.5 and drop to lower zone ( miss 1437) I think Gold will drop to lower and lower but not recommend to sell should wait to got News or prepare to buy back at green zone.
I am new to trading but this pattern to me seems like an Ascending Triangle pattern. It will most likely break the current resistance level and continue to climb upwards.
theoris
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@Evans123, Yes It seem like as your tell
I only imagine which way can go like this idea
but I think retracement it is not finish well , it has many chance to swing around this zone
so I think it should up again (but not higher than 1453 ) and drop one more leg to prepare energy to back in Bullish trend.
RadeMartinovic
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@theoris, adding to your analysis is that RSI indicators are in overbought territory. Without a pullback, the case for 1500 will be very thin or very prolonged.
I am new to trading but this pattern to me seems like an Ascending Triangle pattern. It will most likely break the current resistance level and continue to climb upwards.