Analysis of Gold Price Movement in May 2024
For the daily timeframe in May 2024, Gold has opened at a high level, indicating potential seller activity. The initial target for price movement is the open price of 2321.07, serving as the primary take-profit point for the monthly structure. Utilizing Fibonacci analysis, the first take-profit level is identified at 2339.56, followed by the open price of 2321.07.
Key rules to follow when trading this structure include:
1. Market Structure (OHLC/OLHC)
2. Divergence
3. TDI Cross
When these conditions align, the likelihood of a successful trade increases. Remember to practice patience and apply proper risk management techniques.
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For the daily timeframe in May 2024, Gold has opened at a high level, indicating potential seller activity. The initial target for price movement is the open price of 2321.07, serving as the primary take-profit point for the monthly structure. Utilizing Fibonacci analysis, the first take-profit level is identified at 2339.56, followed by the open price of 2321.07.
Key rules to follow when trading this structure include:
1. Market Structure (OHLC/OLHC)
2. Divergence
3. TDI Cross
When these conditions align, the likelihood of a successful trade increases. Remember to practice patience and apply proper risk management techniques.
Kindly support this idea, Follow, Share and like :)....