So We saw a very strong movement on gold this last week. And once gold reached 1780 price, it has started to pullback since then.
By just looking at the last strong impulsive movement to the down, there is a high probability that we will be seeing some correction movement in this upcoming week, there will be some buyers towards the price of 1840 (very likely to go there) and then we might find a trade opportunity to scale few hundred pips from a single trade.
Potential targets:
First Take profit should be 1780 price levels where market developed a support level this week. And if market crosses that level and go below.
TP 2 will be 1760 price levels
TP 3 will be 1725 price level if we break below 1760
By just looking at the last strong impulsive movement to the down, there is a high probability that we will be seeing some correction movement in this upcoming week, there will be some buyers towards the price of 1840 (very likely to go there) and then we might find a trade opportunity to scale few hundred pips from a single trade.
Potential targets:
First Take profit should be 1780 price levels where market developed a support level this week. And if market crosses that level and go below.
TP 2 will be 1760 price levels
TP 3 will be 1725 price level if we break below 1760