GOLD we have a nice short term bearish bias, on the daily timeframe market has made a strong bullish impulse breaking above structure after a impulse we expect to see a correction to atleast the 0.382 fibonacci, also on the daily market has formed this over extended W formation... after a W formation you can expect to see market go and make a correction and complete the pattern at the neckline of the W. We will be waiting for a slow in momentum and drop down to the lower timeframes and wait for new bearish structure, if all our rules are met we will look for a valid entry to take the intraday short.
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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.