| Entry Point | Key Level | Projection | Stop Loss | |
|---|---|---|---|---|
| Gold | 1843.5 (Buy) | 1847.8, 1850.2 | 1880 | 1835.7 |
Commentary
Hello!, Welcome back, Fibonacci Grid on a 5min Gold Chart. As there is volatility in the gold market but still looks bullish in long-term. I will wait for a retracement and observe the key levels (support). I would enter the market near 1843.5 going long and stops under 1835.7. As looking at the bollinger bands currently there is a squeeze means there is trend coming up shortly. Do keep an eye on the news and use your indicators. Thanks!
Gold Chart - Result time: 19:30 pm
Commentary
Hello! Yes our Fibonacci Levels were respected by the market. Market bounced back from our main entry level at 1843.5 as I have circled it on the graph and then slowly went up if you see the trend line. This was an ideal trade using fibonacci retracements. Afterwards it came back to 1843.5 and then there was a breakout. See you guys soon!
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