GOLD Wait for continuation correction and sell
Hello traders:
GOLD has bee on my attention since it broke the previous highs.
In my previous analysis video and weekly outlook, I mentioned about if price breaks above the all the time high and 2000 level, dont jump into the trade right away.
IF you have a bias in long, then wait for continuation correction to buy.
However, price end up creating a small reversal structure, and a quick impulse follow by a continuation correction on the lower time frame, then we see price dropped significantly in the last day or so.
This fit my overall analysis and plan on how to approach GOLD, as I do have a bias for a sell since it broke the all the highs, but just waiting for the right price action to develop.
I do like to see a conformation now from the lower time frame, waiting for some sort of continuation structure, and I will look to get in on a sell to the recent lows.
Thank you
GOLD has bee on my attention since it broke the previous highs.
In my previous analysis video and weekly outlook, I mentioned about if price breaks above the all the time high and 2000 level, dont jump into the trade right away.
IF you have a bias in long, then wait for continuation correction to buy.
However, price end up creating a small reversal structure, and a quick impulse follow by a continuation correction on the lower time frame, then we see price dropped significantly in the last day or so.
This fit my overall analysis and plan on how to approach GOLD, as I do have a bias for a sell since it broke the all the highs, but just waiting for the right price action to develop.
I do like to see a conformation now from the lower time frame, waiting for some sort of continuation structure, and I will look to get in on a sell to the recent lows.
Thank you
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