Gold us on correction if closed below 2747
I entered a sell position at 2758 yesterday and its HIT TP.
XAUUSD prices are rising sharply,This situation is creating strong buying pressure on gold. If the price stays above the key level of $2748-50 support area the next target could be $2790 or even record highs.
what scanarios do we have?
As alll traders are waiting for the job less claims to pump gold towards 2780 atleast. However, the data was although negative but market didn't react as accordingly to rise.
If any H4 candle close above 2747-2750 , next gold will be on 2780 mark.
On the other hand we are still have approach that market must have to respect the previous support 2725-28 which didn't retest yet.
XAUUSD prices are rising sharply,This situation is creating strong buying pressure on gold. If the price stays above the key level of $2748-50 support area the next target could be $2790 or even record highs.
what scanarios do we have?
As alll traders are waiting for the job less claims to pump gold towards 2780 atleast. However, the data was although negative but market didn't react as accordingly to rise.
If any H4 candle close above 2747-2750 , next gold will be on 2780 mark.
On the other hand we are still have approach that market must have to respect the previous support 2725-28 which didn't retest yet.
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