XAU Updated Buy Entry @ 1900

17 thg 8, 2020

Had a revelation with my gold chart. I originally had anticipated a crash lower but we’ve been rejecting the 1800-1850 zone very well on multiple time frames. I’m looking at an entry for Gold at about 1900. I’ll probably break up my 1 - 3% risk in a few different positions if price dips slightly below 1900. The set up though is from a ascending triangle, price broke out from the triangle came down and retested the trend line then rocketed all the way to 2075 before turning around. Because of this i took my fib retrace tool from the break of the triangle to the high and as you can see in the chart the fibs line up so precisely. I hate that this revelation has just come. Must’ve been high while drawing up that first chart because this looks like it’s going to be a real piece of art if we successfully retest 1900 and reject from there. Potential 13% profit here with gold