GOLD 2h chart - a good level for a LONG position

The GOLD price has moved lower into the liquidity zone. Possible to see the price moving a bit lower to grab the liquidity from the previous local low of 1903.6. Once that liquidity zone is taken, the GOLD price might bounce and create an SFP (swing failure pattern).

As you can see the price dipped in the "Golden pocket" and it is possible to see the price move lower to test the 0.65 fib. located at 1901.6

My projection is a possible move up into the 0.5fib. located at 1943.

Possible trade:

LONG POSITION:

ENTRIES in the 1902-1909 area.

TP (take profit): 50% at 1924, rest of 50% at 1943

SL (stop loss): 1896.7

Trade safe and use risk management.