GOLD- Pullback
Updated
Gold almost completed my first target price at 2.277$ last week Friday.
Before we could see another drop there should be a pullback first as the Friday decline was nearly 4%.
What are the possible targets for this pullback?
1. Fibonacci 23,6% at 2.310$ and the breakdown level at 2314$. (RED rectangles)
2. Fibonacci 38,2% at 2.325$ . (ORANGE)
3. Fibonacci 50% at 2.337$ or the weekly 10 SMA at 2.340$. (GREEN)
Weekly 10 SMA backtest:
Before we could see another drop there should be a pullback first as the Friday decline was nearly 4%.
What are the possible targets for this pullback?
1. Fibonacci 23,6% at 2.310$ and the breakdown level at 2314$. (RED rectangles)
2. Fibonacci 38,2% at 2.325$ . (ORANGE)
3. Fibonacci 50% at 2.337$ or the weekly 10 SMA at 2.340$. (GREEN)
Weekly 10 SMA backtest:
Note
first goal achievedNote
Probably it will be a 2-day-pullback.Note
Breaking above the first target. Note
And here is the tag of the upper trendline.Note
Today -wednesday - the pullback will be over.
Between 2023-2025 you should close the hedges if you opened. The decline continues.
Note
And here is the tag of the FIBONACCI 50% and the weekly 10 SMANote
Weekly 10 SMA IS HERE:Note
I’m short again.
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