Gold Short Opportunity, Still in corrective phase
Gold rejected yet again above that major trendline around 1912.
This opens up a short opportunity.
I will be looking for a retest and resumption downward on the 8 Hrly candles, following one of the two paths (pink or yellow)
This opens up a short opportunity.
I will be looking for a retest and resumption downward on the 8 Hrly candles, following one of the two paths (pink or yellow)
Note
Just noticed it also might have formed a double top, which will take it down to around 1850 Note
Head and Shoulders. Measured move takes it to my first target Note
Played out to a T Looks like it will continue down to the lower target too, but have taken some profits for now.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.