Gold had broken the LH's formed and the inner TL, hence my bias has changed to bearish. I am expecting a tap of the outer TL before correcting the move and forming a head and shoulders before the bigger move to the downside comes into play. Take profit for the long term sell from the 1550-1600 levels would be 1250-1275. This would be consider a really good swing opportunity with multiple take profits along the way to 1250-1275
Note
More specifically, looking for shorts from 1550 as the analysis shows, but we cannot rule out the 1600 level though
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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.