empty
 
 
21.11.2019 04:11 PM
Gold 11.21.2019 - Rejection of the multi Fibonacci confluence at $1.4652, possible upside movement and test of $1.478.

Gold has been trading downwards at the price of $1.465 but I saw strong rejection and potential for upside rotation. I found major Fibonacci confluence at the price of $1.465 and exactly of that level buyers came in, which is for me strong sign the level was seen and accepted by most of traders.

This image is no longer relevant

My advice is to watch for buying opportunities on the dips on the lower frames 5/15 minute time-frames in order to time your entry better. Upward targets are set at the price of $1.477 and $1.483.

Stochastic oscillator is showing oversold condition on the 1H time-frame and bullish divergence, which is sign that sellers got no power for further downside at the moment.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback