A bit disappointing actually. I thought the rebound would be stronger. At least, the sell off is finished for the moment. No way to go further than level 38% of Fibonacci.
If you are bullish on gold, you can:
- Buy gold now or when it pulls-back on the bottom of the Andrews pitchfork. Stop loss if close below the pitchfork. Target is MA7, then MA20
Bears:
- Short sell gold when it hits the MA7. Target: Lower bolinger band. Stop loss if close is above the MA7
Have a good trading day
This is not advice; this is just what I would do.
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