Monday, March 8, 2021 5:23 AM EDT
Gold is strongly bearish. Continuation below double bottom will open the doors to 1656. Watch for a continuation below the double bottom or rejection from the POC zone.
1700-10 is the POC zone, we could see a move straight from the POC towards a retest of 1687 zone. We should see a move lower towards 1667 and 1656. From there, the move up is expected as a form of retracement. Gold has also formed the double top which cues for a continuation down.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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