JICPT| Gold coming closer to rebound target of $1786!
Hello gold traders. I've published a gold trading idea last week. In that post, I mentioned that I observed a rally-base-rally structure( demand zone ), confluence with flip and 61.8% fib around 1740.
A few days has past, the level has been respected well. In addition, the Evergrande crisis also give gold price a push as funds rushes into safe-heaven assets, like gold, Dollar and yen. Looking forward, the debt ceiling issue may also weigh on the market, whilst favor gold. Though, I don't think it'll be a big issue at all, as US government will finally raise the ceiling as they did before.
Now, the price is coming towards the rebound target of $1786. If that level is conquered, the next target will be $1835 where it has failed to challenge for 3 times.
If you have long position, don't forget to trail your stops to manage the risk.
Give me a like if you're with me.
A few days has past, the level has been respected well. In addition, the Evergrande crisis also give gold price a push as funds rushes into safe-heaven assets, like gold, Dollar and yen. Looking forward, the debt ceiling issue may also weigh on the market, whilst favor gold. Though, I don't think it'll be a big issue at all, as US government will finally raise the ceiling as they did before.
Now, the price is coming towards the rebound target of $1786. If that level is conquered, the next target will be $1835 where it has failed to challenge for 3 times.
If you have long position, don't forget to trail your stops to manage the risk.
Give me a like if you're with me.
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Price kissed the target level and left quickly
plan your trade and trade your plan
