GOLD ANALYSIS 08.05.2024
1) The price structure has formed Higher Lows (HL) and Higher Highs (HH).
2) Potential upward movement can be anticipated for today.
3) A breakout above the upper trendline indicates buyer strength.
4) Fibonacci retracement is used to identify suitable buy levels.
5) Entry point is chosen at the 61.80% level (around 2312.00).
6) Stop Loss (SL) is set at 2307.00 to manage risk.
2) Potential upward movement can be anticipated for today.
3) A breakout above the upper trendline indicates buyer strength.
4) Fibonacci retracement is used to identify suitable buy levels.
5) Entry point is chosen at the 61.80% level (around 2312.00).
6) Stop Loss (SL) is set at 2307.00 to manage risk.
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