Gold- Time for correction?
In my yesterday's video I said that, although I'm bearish Gold overall, I closed my short trade and expect a correction.
Of course, not having a crystal ball, I didn't close in the ultimate low, the idea remains the same though: a correction could follow.
Looking closely at the chart we can see that after the aggressive 1k pips drop, the losses are limited and the price action is in fact consolidation in this support zone and as long as the 1850 zone is intact we can expect a rise
The first level of interest is the 1880 zone followed by the important 1900 resistance.
Aggressive traders could look to buy dips with tight stop loss
Of course, not having a crystal ball, I didn't close in the ultimate low, the idea remains the same though: a correction could follow.
Looking closely at the chart we can see that after the aggressive 1k pips drop, the losses are limited and the price action is in fact consolidation in this support zone and as long as the 1850 zone is intact we can expect a rise
The first level of interest is the 1880 zone followed by the important 1900 resistance.
Aggressive traders could look to buy dips with tight stop loss
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