GOLD: Price in Retracement, Pending order on Resistance Area

25 ago 2022

The GOLD in the last 2 sessions after a Strong Push-Down, take a moment to breathe, and the 61.8% Fibonacci retracement, is where the price finds a correction for a possible Pullback. We drew a White rectangle, this is a Resistance area, crucial will be the reaction of the price in this place. Our Bias is for a New push down to confirm our Idea about a Pullback in direction of the main trend. The 200 Moving average and the Dynamic trendline in combination with the Resistance area and the round number Value of 1780.00 may be a solid wall for the price to not go longer in this retracement. We place a High-Risk reward trade here in pending.