A GREAT WEEK WAITING US ON GOLD!!
Keep you eyes on gold this weekend, as you can see the xauusd has been under a trend line since the 9th of march on bullish movement. The 4th of august, the market broke the trend line, and started a "probably pullback" on the trend line.
SO NOW WHAT CAN WE WAIT FOR?
There is two probabilties, the market may break down that trend line again and go all the way down to the last level drawn in green, or the market can do the opposit, which is more likely to happen, by doing a pullback on the trend line, and around the 1736 level and then go all the way up.
And the Fibonnacci, will help me take my decision to make a better entry!
Personnaly, i'll be waiting for a good entry on the level mentioned before (1736), and then go long on gold.
SO NOW WHAT CAN WE WAIT FOR?
There is two probabilties, the market may break down that trend line again and go all the way down to the last level drawn in green, or the market can do the opposit, which is more likely to happen, by doing a pullback on the trend line, and around the 1736 level and then go all the way up.
And the Fibonnacci, will help me take my decision to make a better entry!
Personnaly, i'll be waiting for a good entry on the level mentioned before (1736), and then go long on gold.
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