Gold going to 1500

Gold going to 1500

19 August 2015, 19:24
forexintel
0
101

The gold price seems to have completed a double top at important fibo levels in multiple time frames. Moreover, a price retracement to 1101 or 1097 is due for quite some time now. Since the gold price was not able go past 1130 for more than 4 hours, i decided to take profit and entered a SELL order expecting a downward spike which i have been writing about. If the gold price goes to levels below 1093, then it could mean that the price is headed for a SELL trend. But will get confirmation of the same after the closing of the next two D1 candles. Will keep posted about any changes.

 

 

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