Gold is slowly reaching strong support line and i am expecting for little bit bigger correction to the upside! If zone 1000$ will be ignored next probably even stronger support is around 700$ (about that next time):
Why this is strong PRZ (potential reversal zone)?
- Strong structure
- 1000$ round psychological number
- Fibonacci retracement 78.6
- Fibonacci extension 127.2
- Fibonacci inversion 141.4 - 161.8
- Bullsih divergence ( we might get triple divergence)
When price hit a chart enter with any entry technique you want:
I personally prefer double bottom with strong rejection candles. Or lower timeframe entry (if we won't get nice higher timeframe setup). You might enter with harmonic pattern or 2618 setup (from Akil & Jason)
Why this is strong PRZ (potential reversal zone)?
- Strong structure
- 1000$ round psychological number
- Fibonacci retracement 78.6
- Fibonacci extension 127.2
- Fibonacci inversion 141.4 - 161.8
- Bullsih divergence ( we might get triple divergence)
When price hit a chart enter with any entry technique you want:
I personally prefer double bottom with strong rejection candles. Or lower timeframe entry (if we won't get nice higher timeframe setup). You might enter with harmonic pattern or 2618 setup (from Akil & Jason)