| Entry Point | Key Level | Projection | Stop Loss | |
|---|---|---|---|---|
| Gold | 1657.3 (Sell) | 1653.3, 1654.5, 1655.7 | 1640.0 | 1660.8 |
Gold Chart (3min) - Analysis time: 00:06 am
Commentary
Hi!, Fibonacci Analysis on a 3min Gold Chart, shows some interesting levels. Observe key levels carefuly, when there is a correction. I would enter around 1657.3 going short. Lets see how the market behaves to these levels. I will be posting the result soon!
Gold Chart (3min) - Result time: 18:20 pm
Commentary
The market did retraced to our key levels, it tested our first key level or resistance level at 1653.3 as circle(light blue) on the chart above. Then a bearish trend taking us to 1638.9, it even dropped further to 1632 after a bit of correction.The market was stable after that but gradually breaking all the resistance levels as cicled(red) on the chart above. Money could have been made with some price observation around key levels and by the use of indicators. Will be posting more trade alerts soon!
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