Last time i looked at gold (not on here) it was sat at the support area of 1550 area. suggested it could move from there and price has since moved up a couple of hundred pips. You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF. Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area. We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out
With the impact of coronavirus I think a triple top is likely. Once they get it undercontrol it will probably coincide with a dump to one of the key levels. I honestly wouldn't be surprised to see the 0.5 or even 0.618 level reached before a massive rally
If you can't spot the liquidity then you are the liquidity.
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