GOLD Potential Shorts.....Don't jump the gun
Updated
-Heavy selling pressure as you can see from my arrows
-1370.00 proved to be really strong resistance
-Downtrend starting to appear
-Descending wedge
-Break of significant trendline daily candle break and close
-Multiple targets
-Target 1 coincides with .0618 fib retracement
-Be careful of this blue box area as this has the potential to hold as support
-To be on the safe side you could wait for a clean break and close of this box to enter
-1370.00 proved to be really strong resistance
-Downtrend starting to appear
-Descending wedge
-Break of significant trendline daily candle break and close
-Multiple targets
-Target 1 coincides with .0618 fib retracement
-Be careful of this blue box area as this has the potential to hold as support
-To be on the safe side you could wait for a clean break and close of this box to enter
Trade active
700 plus pips....I've been adding to shorts regularly, descending triangle here.....Break and close of this level of support then we add more shortsTrade active
This is how it ended up with the break to the upside.....simple
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