Gold Retracement is Coming

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Gold is still bearish and we could see a move up as a part of retracement. Profit taking and new buyers are joining.

The POC in the GOLD comes at 1725 as the price is bullish. We could see a continuation towards 1740. If the 1740 is broken we will see a move up towards 1760 and above. This is where historical buyers are so we can see a potential for a move up. Have in mind that bullish move is a part of retracement in downtrend and we still can make money by trading the setup.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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