Gold looking for lower levels
Based on the deterioration of the price early this morning during NY it is clear the price may have more room to move downwards referencing the first Fibonacci sequence.
The price has identified the .382 area on the first sequence as an important area of resistance. We expect further movement down to the original early morning lows. However, there has been upward movement on the price action as noted by the second Fibonacci sequence, which may cause the price to limit its run downwards.
Current RR of roughly 7:1
SL 1890.63
TP: 1879.47 (Just above the -.272)
Trade with suitable risk management practices, this is an opinion, not investment advice.
The price has identified the .382 area on the first sequence as an important area of resistance. We expect further movement down to the original early morning lows. However, there has been upward movement on the price action as noted by the second Fibonacci sequence, which may cause the price to limit its run downwards.
Current RR of roughly 7:1
SL 1890.63
TP: 1879.47 (Just above the -.272)
Trade with suitable risk management practices, this is an opinion, not investment advice.
手動結束交易
Closed manually at 1882.70
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