GOLD Back to the CC
Gold has enjoyed a strong impulse to the upside, pushing price into overbought territory on the 4H chart. I expect a retracement into the Classic Fibonacci “CC” zone (the 0.618–0.65 pocket) near 2,691, which aligns with prior structure and trend support.
Trade Setup:
Entry: 2,861
Stop: 2,902
Target: 2,691
This yields a roughly 4.17 R/R ratio, reflecting a solid reward if price retraces from these highs. Watch for short-term reversal signals before entering, and always manage risk accordingly.
Trade Setup:
Entry: 2,861
Stop: 2,902
Target: 2,691
This yields a roughly 4.17 R/R ratio, reflecting a solid reward if price retraces from these highs. Watch for short-term reversal signals before entering, and always manage risk accordingly.
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