High Probability Gold Trading Set Up
Following yesterday's $1824 high and $1810 close, a pull back and consolidation towards $1800 - $1795 is very likely.
Since the short term trend is bullish, Buyers are likely to accumulate long positions at the test of support zone.
It is a high probability that the Gold rally may resume to retest recent high of $1824 and extend the upmove to $1842 which is 50% Fibonacci level of $2070 - $1614 major correctional wave.
This Buy set up will remain valid as long as 38.2% Fibonacci level $1788 remains active support.
Following yesterday's $1824 high and $1810 close, a pull back and consolidation towards $1800 - $1795 is very likely.
Since the short term trend is bullish, Buyers are likely to accumulate long positions at the test of support zone.
It is a high probability that the Gold rally may resume to retest recent high of $1824 and extend the upmove to $1842 which is 50% Fibonacci level of $2070 - $1614 major correctional wave.
This Buy set up will remain valid as long as 38.2% Fibonacci level $1788 remains active support.