now if you have traded gold you know that it respects certain levels either the retailers trendlines or supply and demand zones or fibonacci retracement levels...but ideally this is as a result of the composite's man behaviour as highlighted by wyckoff. in this semi detailed analysis we see that gold is respecting a certain channel going upwards...but this is so clear to everyone and thus makes it a liability..guys get stopped out due to immature entries...but in here i have shown exactly where gold is biased to buy at...fib levels are the only tool that the stock markets respects aas it represents every traders behaviour. to get to the point... i will be buying gold at fib level 38.2 which is the price of 1808.667....most pending orders are flooded on this level.. if you hve a volumes indicator on your chart you will clearly see that. our tp will be set in betweeen the 61.8% and 78.6% levels.....probably we will be taking our profits at 1861.638
cheers and all the best...remember don't trade like a retailer rather like a bank..ride the trend only if thats the dorminant one.....gold is BULLISH
cheers and all the best...remember don't trade like a retailer rather like a bank..ride the trend only if thats the dorminant one.....gold is BULLISH