As mentioned in my prior weekly analysis, there were some key fib levels to look out for.
The 0.382 was hit yesterday. We waited to see how price reacted, and it broke through.
Today the 0.5 was hit. Now we will wait for the daily close and see how the price reacts for a second time.
it is highly likely a short entry will present itself either tomorrow - in regards to the upcoming ADP data - OR on Friday when NFP hits.
The 0.382 was hit yesterday. We waited to see how price reacted, and it broke through.
Today the 0.5 was hit. Now we will wait for the daily close and see how the price reacts for a second time.
it is highly likely a short entry will present itself either tomorrow - in regards to the upcoming ADP data - OR on Friday when NFP hits.
ノート
Good rejection again today.NFP is releasing tomorrow, so the aim will be to short the high following the data release. This should trigger the new mid term downtrend.
ノート
Gold has now essentially rejected our zone very convincingly.The mid term down trend has now begun.
ノート
Just an update, you should now be looking for shorts.ノート
Very long hold for this trade, however, this is the nature of longer term analysis.I will be posting an updated analysis tommorow.
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免責事項
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.