GOLD analysis

8. Dez. 2019

from monthly we got overextended W strategy but we use our Fibonacci retracement level at least to the 0.382 that is already hit and we are going to the next level of the zone which is 0.5, from monthly we got our target, now move to the weekly perspective which if we use our Fibonacci level that we can see the level 0.382 already hit and start push to the downside. move to the daily timeframe what we can see is clearly a W strategy which is the candle already break our neckline and start to push to the downside. now the 4h time frame for our execution time frame which is already in a bearish environment, now we can set up our buy area, stop loss and take profit as per my chart.