GOLD: Smart money selling into 1224.00/25 resistance

GOLD M5

G5

The 1:1 (Light blue) and 38.2 fib that coincided at 1224.00 that I had mentioned in my previous post, has attracted solid selling from intraday players. Some profit taking is being seen now with the failure so far to take out the daily lows.

* A 1:1 refers to a current correction being equal in length to a prior correction

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