Gold- looks like a downtrend to me
Updated
Gold is in a downtrend- and trend is your friend. So this is here where I take a short entry
Evidence:
1. Price recently been twisting around the 236 fib.
2. 5 candles before this candle right now showed a very big candle bear to bring price under 236 fib.
3. One candle before this price retest light blue resistant line and this means this a now true resistant line.
4. Before this is. No decision candle. This candle now gap down and gap under 236 fib. This candle not yet confirm that no decision candle is bear candle but I be real surprise if this candle now does not end bear. (We'll see if I will be right)
5. 236 fib is neckline of recent heads and shoulder action. And it has held for resistant line.
These points are my thinking.
Please comment your thoughts too and I like input.
Good luck to all!
Miss Bunny💕
Evidence:
1. Price recently been twisting around the 236 fib.
2. 5 candles before this candle right now showed a very big candle bear to bring price under 236 fib.
3. One candle before this price retest light blue resistant line and this means this a now true resistant line.
4. Before this is. No decision candle. This candle now gap down and gap under 236 fib. This candle not yet confirm that no decision candle is bear candle but I be real surprise if this candle now does not end bear. (We'll see if I will be right)
5. 236 fib is neckline of recent heads and shoulder action. And it has held for resistant line.
These points are my thinking.
Please comment your thoughts too and I like input.
Good luck to all!
Miss Bunny💕
Note
Trade closed and profit took😊
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